Northwest Bank & Trust Co Has $1.49 Million Stake in Abbott Laboratories (NYSE:ABT)

Northwest Bank & Trust Co lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,026 shares of the healthcare product maker’s stock after selling 90 shares during the quarter. Abbott Laboratories makes up 1.1% of Northwest Bank & Trust Co’s holdings, making the stock its 16th biggest holding. Northwest Bank & Trust Co’s holdings in Abbott Laboratories were worth $1,485,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the second quarter worth $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $30,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the third quarter worth about $31,000. Institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were 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 $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded down $0.28 during mid-day trading on Thursday, reaching $115.67. 1,249,973 shares of the company’s stock traded hands, compared to its average volume of 5,725,655. The company has a market cap of $201.22 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.86 and a beta of 0.72. The stock has a 50 day moving average of $112.93 and a two-hundred day moving average of $108.26. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64.

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

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of research reports. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Jefferies Financial Group restated a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a research note on Thursday, September 26th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research note on Tuesday. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, Piper Sandler assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $125.15.

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.