Abbott Laboratories (NYSE:ABT) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lowered its position in Abbott Laboratories (NYSE:ABT) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,405 shares of the healthcare product maker’s stock after selling 990 shares during the period. Hancock Whitney Corp’s holdings in Abbott Laboratories were worth $2,098,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. BDF Gestion purchased a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $7,651,000. Simplify Asset Management Inc. lifted its holdings in shares of Abbott Laboratories by 67.3% in the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after purchasing an additional 5,664 shares in the last quarter. Dundas Partners LLP grew its position in shares of Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after purchasing an additional 6,897 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Abbott Laboratories by 19.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after purchasing an additional 31,720 shares in the last quarter. Finally, MONECO Advisors LLC lifted its stake in Abbott Laboratories by 110.1% in the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock valued at $3,551,000 after buying an additional 16,325 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.3 %

Shares of ABT opened at $118.13 on Tuesday. The stock’s fifty day simple moving average is $115.59 and its 200 day simple moving average is $110.04. Abbott Laboratories has a twelve month low of $99.71 and a twelve month 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 capitalization of $204.89 billion, a P/E ratio of 35.91, a price-to-earnings-growth ratio of 2.77 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 for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 EPS. On average, equities research analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was 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 $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ABT shares. Evercore ISI raised their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Raymond James reissued a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $130.07.

Abbott Laboratories Company 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.