Abbott Laboratories (NYSE:ABT) Shares Sold by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department lowered its holdings in Abbott Laboratories (NYSE:ABT) by 9.9% in the third quarter, Holdings Channel.com reports. The firm owned 10,989 shares of the healthcare product maker’s stock after selling 1,205 shares during the period. Trustmark National Bank Trust Department’s holdings in Abbott Laboratories were worth $1,253,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Abbott Laboratories by 12.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 400,535 shares of the healthcare product maker’s stock worth $45,665,000 after purchasing an additional 43,806 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Abbott Laboratories by 4.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 25,923 shares of the healthcare product maker’s stock worth $2,956,000 after purchasing an additional 1,109 shares in the last quarter. Moors & Cabot Inc. boosted its position in Abbott Laboratories by 2.9% during the 3rd quarter. Moors & Cabot Inc. now owns 60,129 shares of the healthcare product maker’s stock worth $6,855,000 after acquiring an additional 1,710 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in Abbott Laboratories in the third quarter valued at about $271,000. Finally, First Horizon Advisors Inc. raised its holdings in Abbott Laboratories by 2.1% during the third quarter. First Horizon Advisors Inc. now owns 117,119 shares of the healthcare product maker’s stock valued at $13,353,000 after buying an additional 2,365 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upped their price target on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Mizuho increased their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler Companies started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Finally, Morgan Stanley lifted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Up 1.4 %

Shares of NYSE ABT opened at $117.57 on Friday. The firm has a market cap of $203.91 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 2.76 and a beta of 0.72. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $115.55 and its two-hundred day moving average is $109.80.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period last year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

About Abbott Laboratories

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.