Culbertson A N & Co. Inc. Trims Stock Holdings in Abbott Laboratories (NYSE:ABT)

Culbertson A N & Co. Inc. lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 0.2% during the 3rd quarter, Holdings Channel reports. The firm owned 92,434 shares of the healthcare product maker’s stock after selling 160 shares during the quarter. Abbott Laboratories comprises 1.7% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 18th largest holding. Culbertson A N & Co. Inc.’s holdings in Abbott Laboratories were worth $10,538,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ABT. Signal Advisors Wealth LLC grew its position in Abbott Laboratories by 38.8% during the first quarter. Signal Advisors Wealth LLC now owns 3,490 shares of the healthcare product maker’s stock valued at $397,000 after buying an additional 976 shares during the period. Banque Cantonale Vaudoise increased its stake in shares of Abbott Laboratories by 4.1% in the 1st quarter. Banque Cantonale Vaudoise now owns 95,077 shares of the healthcare product maker’s stock valued at $10,805,000 after purchasing an additional 3,760 shares in the last quarter. Cox Capital Mgt LLC raised its holdings in Abbott Laboratories by 0.3% in the 1st quarter. Cox Capital Mgt LLC now owns 40,817 shares of the healthcare product maker’s stock worth $4,639,000 after purchasing an additional 139 shares during the period. Wedmont Private Capital grew its holdings in Abbott Laboratories by 9.4% in the first quarter. Wedmont Private Capital now owns 13,224 shares of the healthcare product maker’s stock valued at $1,487,000 after purchasing an additional 1,132 shares during the period. Finally, KMG Fiduciary Partners LLC increased its position in shares of Abbott Laboratories by 0.8% in the first quarter. KMG Fiduciary Partners LLC now owns 16,378 shares of the healthcare product maker’s stock valued at $1,862,000 after buying an additional 132 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Price Performance

ABT opened at $117.82 on Thursday. The firm has a market cap of $204.96 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 2.74 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average price is $113.60 and its 200 day moving average price is $108.40. Abbott Laboratories has a 12-month low of $91.25 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the prior year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.87%. Abbott Laboratories’s payout ratio is 68.54%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $120.00 price target on shares of Abbott Laboratories in a research note on Thursday, September 26th. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Raymond James restated a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research report on Monday. Finally, Oppenheimer started coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.54.

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.