Abbott Laboratories (NYSE:ABT) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp reduced its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 4.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,784 shares of the healthcare product maker's stock after selling 3,978 shares during the period. Atlantic Union Bankshares Corp's holdings in Abbott Laboratories were worth $11,247,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth about $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories in the first quarter worth approximately $28,000. Redwood Park Advisors LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $25,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories in the 1st quarter worth approximately $32,000. Finally, WealthTrak Capital Management LLC purchased a new position in Abbott Laboratories during the 4th quarter worth approximately $28,000. 75.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ABT shares. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday. Mizuho raised their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday. Stifel Nicolaus boosted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Barclays increased their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Finally, Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and an average target price of $144.47.

Insider Buying and Selling at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

NYSE ABT opened at $123.81 on Friday. The firm has a 50-day moving average of $132.98 and a 200-day moving average of $129.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The stock has a market cap of $215.41 billion, a PE ratio of 15.52, a P/E/G ratio of 2.35 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.92 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the firm earned $1.14 earnings per share. Abbott Laboratories's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.91%. Abbott Laboratories's payout ratio is currently 30.61%.

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.

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