CNB Bank Sells 331 Shares of Abbott Laboratories (NYSE:ABT)

CNB Bank decreased its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,633 shares of the healthcare product maker’s stock after selling 331 shares during the quarter. CNB Bank’s holdings in Abbott Laboratories were worth $840,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $28,000. Cornerstone Planning Group LLC purchased a new stake in Abbott Laboratories in the second quarter worth approximately $28,000. FWL Investment Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $33,000. True Wealth Design LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $33,000. Finally, Quarry LP boosted its holdings in Abbott Laboratories by 132.9% in the second quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock worth $36,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABT. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup raised their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Barclays raised their price objective on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Royal Bank of Canada decreased their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Raymond James raised their price objective on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $121.90.

Read Our Latest Report on Abbott Laboratories

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $107.28 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The company has a market cap of $186.15 billion, a P/E ratio of 33.42, a P/E/G ratio of 2.58 and a beta of 0.74. The firm’s fifty day moving average is $114.19 and its two-hundred day moving average is $107.74. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same period last year, the company posted $1.03 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. Abbott Laboratories’s payout ratio is currently 68.54%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock valued at $6,451,298 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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