Hancock Whitney Corp Cuts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Hancock Whitney Corp reduced its position in Abbott Laboratories (NYSE:ABT) by 11.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,395 shares of the healthcare product maker’s stock after selling 2,585 shares during the period. Hancock Whitney Corp’s holdings in Abbott Laboratories were worth $2,015,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Gilbert & Cook Inc. lifted its stake in Abbott Laboratories by 17.4% during the 4th quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock valued at $832,000 after acquiring an additional 1,120 shares during the period. Accretive Wealth Partners LLC raised its holdings in shares of Abbott Laboratories by 1.2% during the fourth quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after purchasing an additional 152 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in Abbott Laboratories by 13.3% in the fourth quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock worth $388,000 after purchasing an additional 413 shares during the last quarter. Gryphon Financial Partners LLC grew its position in Abbott Laboratories by 3.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock worth $12,252,000 after purchasing an additional 3,767 shares during the period. Finally, TrinityPoint Wealth LLC raised its stake in Abbott Laboratories by 1.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,247 shares of the healthcare product maker’s stock valued at $2,339,000 after buying an additional 376 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group began coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI reduced their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Piper Sandler initiated coverage on shares of Abbott Laboratories in a report on Thursday. They issued an “overweight” rating and a $131.00 price objective on the stock. Finally, Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $123.33.

Abbott Laboratories Trading Down 0.4 %

Shares of ABT stock opened at $113.70 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock has a fifty day simple moving average of $110.50 and a two-hundred day simple moving average of $108.53. The firm has a market capitalization of $197.80 billion, a PE ratio of 35.42, a PEG ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter last year, the company earned $1.08 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.93%. Abbott Laboratories’s payout ratio is 68.54%.

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.