Comerica Bank Has $90.74 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Comerica Bank decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 802,196 shares of the healthcare product maker's stock after selling 17,866 shares during the quarter. Comerica Bank's holdings in Abbott Laboratories were worth $90,736,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth $26,000. NewSquare Capital LLC grew its position in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth about $29,000. Institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ABT shares. Royal Bank of Canada lifted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Citigroup lifted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. UBS Group lifted their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Buying and Selling at Abbott Laboratories

In related news, SVP Eric Shroff sold 562 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares in the company, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares of the company's stock, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,278 shares of company stock worth $12,745,859. 0.46% of the stock is owned by company insiders.

Abbott Laboratories Trading Up 1.6 %

Shares of NYSE ABT traded up $2.04 during trading on Friday, hitting $132.92. 9,801,356 shares of the company traded hands, compared to its average volume of 6,127,185. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $230.53 billion, a P/E ratio of 17.38, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a 50-day moving average price of $130.21 and a 200-day moving average price of $122.96. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. On average, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

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.