Abbott Laboratories (NYSE:ABT) Shares Bought by Bangor Savings Bank

Bangor Savings Bank lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% in the fourth quarter, Holdings Channel reports. The firm owned 5,835 shares of the healthcare product maker’s stock after purchasing an additional 110 shares during the period. Bangor Savings Bank’s holdings in Abbott Laboratories were worth $660,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Groupama Asset Managment increased its position in shares of Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories during the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories in the 2nd quarter valued at $32,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories in the third quarter valued at about $32,000. Finally, Valued Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT opened at $112.86 on Tuesday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market cap of $195.75 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.69 and a beta of 0.73. The stock has a 50 day moving average of $115.44 and a 200-day moving average of $112.31.

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

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.09%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Morgan Stanley boosted 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. Barclays boosted their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, Raymond James reaffirmed a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.57.

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.