Centennial Bank AR Has $423,000 Stake in Abbott Laboratories (NYSE:ABT)

Centennial Bank AR lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,071 shares of the healthcare product maker’s stock after selling 104 shares during the quarter. Centennial Bank AR’s holdings in Abbott Laboratories were worth $423,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $30,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $29,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the 2nd quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.4 %

Shares of ABT stock opened at $113.58 on Wednesday. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The firm has a 50 day moving average price of $111.97 and a two-hundred day moving average price of $108.15. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $197.59 billion, a PE ratio of 35.38, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72.

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

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday. Piper Sandler assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Citigroup increased their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Barclays boosted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $124.33.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by 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.