18,385 Shares in Abbott Laboratories (NYSE:ABT) Bought by Texas Bank & Trust Co

Texas Bank & Trust Co acquired a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,385 shares of the healthcare product maker's stock, valued at approximately $2,080,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tidal Investments LLC raised its stake in Abbott Laboratories by 51.7% in the fourth quarter. Tidal Investments LLC now owns 162,823 shares of the healthcare product maker's stock valued at $18,417,000 after buying an additional 55,515 shares during the last quarter. Tolleson Wealth Management Inc. raised its stake in shares of Abbott Laboratories by 51.4% in the fourth quarter. Tolleson Wealth Management Inc. now owns 3,430 shares of the healthcare product maker's stock worth $388,000 after purchasing an additional 1,165 shares during the last quarter. TrinityPoint Wealth LLC raised its stake in shares of Abbott Laboratories by 1.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 23,693 shares of the healthcare product maker's stock worth $2,680,000 after purchasing an additional 385 shares during the last quarter. State of Wyoming raised its stake in shares of Abbott Laboratories by 661.6% in the fourth quarter. State of Wyoming now owns 6,832 shares of the healthcare product maker's stock worth $773,000 after purchasing an additional 5,935 shares during the last quarter. Finally, Strive Asset Management LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth about $711,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 1.6%

NYSE ABT traded down $2.11 on Wednesday, reaching $133.09. 7,209,074 shares of the company were exchanged, compared to its average volume of 6,133,400. The business's fifty day moving average price is $129.57 and its 200 day moving average price is $124.37. The stock has a market capitalization of $231.56 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23.

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

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.77%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABT. Citigroup lifted their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. 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 research report on Thursday, April 17th. Jefferies Financial Group raised their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Finally, Stifel Nicolaus raised their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus 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 business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $77,651.54. Following the sale, the senior vice president now owns 31,970 shares in the company, valued at approximately $4,417,294.90. The trade was a 1.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,278 shares of company stock worth $12,745,859 over the last quarter. 0.46% of the stock is currently owned by company insiders.

About Abbott Laboratories

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.