Equitable Trust Co. Sells 253 Shares of Abbott Laboratories (NYSE:ABT)

Equitable Trust Co. decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,487 shares of the healthcare product maker’s stock after selling 253 shares during the period. Equitable Trust Co.’s holdings in Abbott Laboratories were worth $2,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ABT. Perfromance Wealth Partners LLC bought a new position in Abbott Laboratories during the third quarter valued at $298,000. Silverlake Wealth Management LLC bought a new position in shares of Abbott Laboratories in the third quarter worth about $219,000. Annex Advisory Services LLC grew its holdings in shares of Abbott Laboratories by 4.9% in the third quarter. Annex Advisory Services LLC now owns 69,851 shares of the healthcare product maker’s stock worth $7,964,000 after purchasing an additional 3,268 shares during the last quarter. Retirement Planning Group LLC grew its holdings in shares of Abbott Laboratories by 18.7% in the third quarter. Retirement Planning Group LLC now owns 3,137 shares of the healthcare product maker’s stock worth $358,000 after purchasing an additional 494 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Abbott Laboratories by 13.2% in the third quarter. Exchange Traded Concepts LLC now owns 16,975 shares of the healthcare product maker’s stock worth $1,935,000 after purchasing an additional 1,985 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Up 0.7 %

NYSE:ABT opened at $129.11 on Monday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $132.50. The stock has a market capitalization of $223.93 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company’s 50-day simple moving average is $117.46 and its 200-day simple moving average is $115.18.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.83%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler upped their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Barclays restated an “overweight” rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Sanford C. Bernstein upped their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.