Truist Financial Corp Sells 96,735 Shares of Abbott Laboratories (NYSE:ABT)

Truist Financial Corp trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 3.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,839,281 shares of the healthcare product maker’s stock after selling 96,735 shares during the quarter. Truist Financial Corp’s holdings in Abbott Laboratories were worth $312,520,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its stake in Abbott Laboratories by 147.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 31,159 shares of the healthcare product maker’s stock worth $3,018,000 after acquiring an additional 18,546 shares during the last quarter. Strategic Blueprint LLC raised its stake in Abbott Laboratories by 3.6% during the third quarter. Strategic Blueprint LLC now owns 8,235 shares of the healthcare product maker’s stock valued at $798,000 after purchasing an additional 286 shares in the last quarter. Stewart & Patten Co. LLC lifted its position in Abbott Laboratories by 0.7% during the third quarter. Stewart & Patten Co. LLC now owns 189,130 shares of the healthcare product maker’s stock valued at $18,317,000 after purchasing an additional 1,240 shares during the last quarter. Financial & Tax Architects LLC grew its stake in shares of Abbott Laboratories by 3.8% in the 3rd quarter. Financial & Tax Architects LLC now owns 51,450 shares of the healthcare product maker’s stock worth $4,983,000 after buying an additional 1,905 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. raised its position in shares of Abbott Laboratories by 6.1% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 9,549 shares of the healthcare product maker’s stock valued at $925,000 after buying an additional 553 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,435 shares of company stock valued at $6,451,298. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.6 %

Shares of NYSE:ABT traded up $0.65 during trading on Friday, reaching $107.51. 3,575,246 shares of the company were exchanged, compared to its average volume of 5,660,976. The business’s fifty day simple moving average is $113.64 and its 200-day simple moving average is $108.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The firm has a market capitalization of $186.55 billion, a PE ratio of 33.49, a P/E/G ratio of 2.57 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same period in the previous year, the company posted $1.03 EPS. Abbott Laboratories’s revenue was up 2.2% on a year-over-year basis. On average, research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ABT shares. Royal Bank of Canada reduced their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Raymond James reissued a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday. Citigroup lifted their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI increased their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Barclays dropped their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.50.

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.