Intrust Bank NA Has $2.42 Million Stake in Abbott Laboratories (NYSE:ABT)

Intrust Bank NA reduced its holdings in Abbott Laboratories (NYSE:ABT) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,430 shares of the healthcare product maker’s stock after selling 397 shares during the period. Intrust Bank NA’s holdings in Abbott Laboratories were worth $2,424,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ABT. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $26,000. NewSquare Capital LLC increased its stake in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at $29,000. Wingate Wealth Advisors Inc. acquired a new stake in Abbott Laboratories in the fourth quarter worth about $34,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Abbott Laboratories during the 4th quarter worth about $37,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $130.81 on Friday. The company has a 50 day moving average price of $130.05 and a 200-day moving average price of $120.34. The company has a market capitalization of $226.87 billion, a PE ratio of 17.10, a P/E/G ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

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

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. Abbott Laboratories’s payout ratio is 30.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ABT shares. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Citigroup upped their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Bank of America lifted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. UBS Group raised their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays reissued an “overweight” rating and issued a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $137.94.

Insiders Place Their Bets

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the sale, the executive vice president now owns 71,928 shares in the company, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,449 shares of company stock worth $15,463,316. Corporate insiders own 0.46% of the company’s stock.

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.