American Trust Has $3.53 Million Holdings in Abbott Laboratories (NYSE:ABT)

American Trust decreased its holdings in Abbott Laboratories (NYSE:ABT) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,938 shares of the healthcare product maker’s stock after selling 1,619 shares during the quarter. American Trust’s holdings in Abbott Laboratories were worth $3,526,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the second quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories in the first quarter valued at about $30,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories during the second quarter worth about $32,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE ABT opened at $113.58 on Wednesday. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm has a market cap of $197.59 billion, a PE ratio of 35.38, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. The company has a 50 day simple moving average of $111.97 and a 200 day simple moving average of $108.15.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 earnings per share. On average, research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Piper Sandler began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Citigroup upped 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. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.33.

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.