First County Bank CT Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

First County Bank CT cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 12.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,012 shares of the healthcare product maker’s stock after selling 1,041 shares during the quarter. First County Bank CT’s holdings in Abbott Laboratories were worth $793,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ABT. Bath Savings Trust Co raised its position in Abbott Laboratories by 3.7% during the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after acquiring an additional 5,881 shares during the last quarter. Spartan Planning & Wealth Management purchased a new stake in Abbott Laboratories in the fourth quarter valued at approximately $378,000. Regent Peak Wealth Advisors LLC increased its stake in Abbott Laboratories by 2.0% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 4,873 shares of the healthcare product maker’s stock worth $551,000 after acquiring an additional 97 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Abbott Laboratories by 3.0% during the 4th quarter. Diversified Trust Co now owns 72,951 shares of the healthcare product maker’s stock valued at $8,251,000 after acquiring an additional 2,104 shares in the last quarter. Finally, Bangor Savings Bank lifted its position in shares of Abbott Laboratories by 1.9% during the fourth quarter. Bangor Savings Bank now owns 5,835 shares of the healthcare product maker’s stock worth $660,000 after purchasing an additional 110 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of ABT traded up $0.74 on Tuesday, reaching $113.78. 3,180,990 shares of the company’s stock traded hands, compared to its average volume of 4,271,497. The stock’s 50 day simple moving average is $115.44 and its two-hundred day simple moving average is $112.31. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $197.35 billion, a PE ratio of 34.58, a PEG ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the firm earned $1.14 EPS. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is currently 71.73%.

Wall Street Analyst Weigh In

ABT has been the subject of several research reports. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Mizuho raised their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler Companies assumed 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. Finally, Raymond James reissued a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $131.57.

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.