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

Zions Bancorporation N.A. lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 43.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV raised its position in shares of Abbott Laboratories by 61.5% in the third quarter. KBC Group NV now owns 1,497,747 shares of the healthcare product maker’s stock valued at $170,757,000 after purchasing an additional 570,224 shares during the period. Peak Asset Management LLC raised its holdings in Abbott Laboratories by 9.0% during the 3rd quarter. Peak Asset Management LLC now owns 14,777 shares of the healthcare product maker’s stock valued at $1,685,000 after acquiring an additional 1,220 shares during the period. Freemont Management S.A. boosted its holdings in shares of Abbott Laboratories by 46.6% in the third quarter. Freemont Management S.A. now owns 10,000 shares of the healthcare product maker’s stock worth $1,140,000 after acquiring an additional 3,180 shares during the period. Cable Hill Partners LLC raised its stake in shares of Abbott Laboratories by 7.8% during the 3rd quarter. Cable Hill Partners LLC now owns 9,698 shares of the healthcare product maker’s stock valued at $1,106,000 after purchasing an additional 705 shares during the period. Finally, Schrum Private Wealth Management LLC boosted its stake in Abbott Laboratories by 41.8% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,610 shares of the healthcare product maker’s stock worth $1,894,000 after purchasing an additional 4,895 shares during the period. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. UBS Group raised their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Citigroup increased their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Finally, Jefferies Financial Group boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on 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 transaction, the chief executive officer now directly owns 220,059 shares in the company, 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 is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.8 %

Shares of NYSE ABT opened at $115.90 on Friday. The company has a market cap of $201.02 billion, a PE ratio of 35.23, a P/E/G ratio of 2.72 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm’s 50 day moving average price is $115.49 and its 200-day moving average price is $109.43. Abbott Laboratories has a 52-week low of $97.64 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during 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%. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 EPS. On average, equities research analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

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.