Charles Schwab Trust Co Sells 657 Shares of Abbott Laboratories (NYSE:ABT)

Charles Schwab Trust Co lowered its position in Abbott Laboratories (NYSE:ABT) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,220 shares of the healthcare product maker’s stock after selling 657 shares during the period. Charles Schwab Trust Co’s holdings in Abbott Laboratories were worth $1,735,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after buying an additional 8,834,840 shares during the period. Capital International Investors raised its position in shares of Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Abbott Laboratories by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after buying an additional 1,027,390 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Abbott Laboratories by 5.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after buying an additional 508,524 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Abbott Laboratories by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 9,922,170 shares of the healthcare product maker’s stock valued at $1,092,133,000 after buying an additional 228,039 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded up $0.71 during trading on Friday, hitting $116.33. The company had a trading volume of 1,341,079 shares, compared to its average volume of 5,717,705. The stock has a fifty day simple moving average of $113.04 and a two-hundred day simple moving average of $108.31. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a market capitalization of $202.37 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. 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 posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share. On average, research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analysts Set New Price Targets

ABT has been the topic of several recent research reports. Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $125.15.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated 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 directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

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.