Atlantic Union Bankshares Corp Sells 4,950 Shares of Abbott Laboratories (NYSE:ABT)

Atlantic Union Bankshares Corp reduced its stake in Abbott Laboratories (NYSE:ABT) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,159 shares of the healthcare product maker’s stock after selling 4,950 shares during the period. Atlantic Union Bankshares Corp’s holdings in Abbott Laboratories were worth $10,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Unique Wealth Strategies LLC bought a new position in shares of Abbott Laboratories in the second quarter worth $28,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $32,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the third quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC lifted its stake in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.8 %

Shares of ABT stock opened at $118.95 on Friday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. 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 stock has a 50 day simple moving average of $115.76 and a two-hundred day simple moving average of $110.25. The company has a market cap of $206.31 billion, a P/E ratio of 36.16, a PEG ratio of 2.78 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results 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 company 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%. Abbott Laboratories’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. Research analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were 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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Oppenheimer started coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Citigroup raised their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Barclays increased their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. 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 research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

About Abbott Laboratories

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.