Abbott Laboratories (NYSE:ABT) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,850 shares of the healthcare product maker’s stock after selling 3,103 shares during the quarter. Abbott Laboratories makes up 1.2% of First Financial Bank Trust Division’s portfolio, making the stock its 20th biggest position. First Financial Bank Trust Division’s holdings in Abbott Laboratories were worth $13,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the second quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories during the first quarter worth $30,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the second quarter worth $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

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

Abbott Laboratories Stock Up 0.1 %

ABT stock opened at $113.64 on Thursday. The company has a 50 day moving average of $112.10 and a two-hundred day moving average of $108.19. The company has a market cap of $197.69 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. 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 (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same period last year, the company earned $1.08 earnings per share. Abbott Laboratories’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

ABT has been the topic of several recent research reports. Piper Sandler initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Barclays boosted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Citigroup upped their price objective 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. Finally, Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $124.33.

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.