Zions Bancorporation N.A. Sells 2,207 Shares of Abbott Laboratories (NYSE:ABT)

Zions Bancorporation N.A. cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 43.5% during the third quarter, Holdings Channel.com reports. The fund owned 2,871 shares of the healthcare product maker’s stock after selling 2,207 shares during the period. Zions Bancorporation N.A.’s holdings in Abbott Laboratories were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ABT. Intech Investment Management LLC raised its position in shares of Abbott Laboratories by 84.5% during the first quarter. Intech Investment Management LLC now owns 32,123 shares of the healthcare product maker’s stock valued at $3,651,000 after buying an additional 14,715 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Abbott Laboratories by 45.3% during the 1st quarter. Acadian Asset Management LLC now owns 52,270 shares of the healthcare product maker’s stock valued at $5,936,000 after buying an additional 16,300 shares in the last quarter. Blue Barn Wealth LLC boosted its position in shares of Abbott Laboratories by 13.9% during the 1st quarter. Blue Barn Wealth LLC now owns 3,191 shares of the healthcare product maker’s stock valued at $363,000 after acquiring an additional 389 shares during the last quarter. Patten & Patten Inc. TN grew its holdings in shares of Abbott Laboratories by 0.9% in the first quarter. Patten & Patten Inc. TN now owns 168,671 shares of the healthcare product maker’s stock valued at $19,171,000 after purchasing an additional 1,493 shares in the last quarter. Finally, Catalytic Wealth RIA LLC increased its position in Abbott Laboratories by 25.8% in the first quarter. Catalytic Wealth RIA LLC now owns 8,710 shares of the healthcare product maker’s stock worth $990,000 after purchasing an additional 1,784 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.8 %

NYSE:ABT opened at $115.90 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1-year low of $97.64 and a 1-year high of $121.64. The company has a 50-day moving average of $115.49 and a 200 day moving average of $109.43. The firm has a market cap of $201.02 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.72 and a beta of 0.72.

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

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following 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 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on ABT shares. Piper Sandler lifted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Morgan Stanley raised their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $130.07.

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.