Truist Financial Corp Sells 71,440 Shares of Abbott Laboratories (NYSE:ABT)

Truist Financial Corp decreased its position in Abbott Laboratories (NYSE:ABT - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,342,287 shares of the healthcare product maker's stock after selling 71,440 shares during the quarter. Truist Financial Corp owned about 0.08% of Abbott Laboratories worth $178,054,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Three Seasons Wealth LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $1,428,000. Kelly Financial Services LLC bought a new stake in Abbott Laboratories during the first quarter worth approximately $216,000. Voleon Capital Management LP bought a new stake in Abbott Laboratories during the fourth quarter worth approximately $273,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in Abbott Laboratories by 5.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock worth $133,691,000 after purchasing an additional 57,499 shares during the period. Finally, Bank Pictet & Cie Europe AG boosted its position in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after purchasing an additional 2,774 shares during the period. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Down 0.3%

NYSE ABT traded down $0.42 during trading on Friday, hitting $133.70. The stock had a trading volume of 3,114,335 shares, compared to its average volume of 6,156,602. The company has a market capitalization of $232.61 billion, a PE ratio of 17.34, a P/E/G ratio of 2.55 and a beta of 0.73. The company's 50-day moving average price is $133.29 and its two-hundred day moving average price is $128.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 annualized dividend and a yield of 1.77%. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director directly owned 34,058 shares of the company's stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Stifel Nicolaus upped their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Jefferies Financial Group upped their target price on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research report on Thursday, April 17th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Wells Fargo & Company upped their target price on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Finally, Barclays increased their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $142.61.

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.