Trust Co. of Toledo NA OH Sells 384 Shares of Abbott Laboratories (NYSE:ABT)

Trust Co. of Toledo NA OH trimmed its stake in Abbott Laboratories (NYSE:ABT) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,723 shares of the healthcare product maker’s stock after selling 384 shares during the period. Abbott Laboratories makes up about 1.1% of Trust Co. of Toledo NA OH’s portfolio, making the stock its 20th biggest position. Trust Co. of Toledo NA OH’s holdings in Abbott Laboratories were worth $8,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the second quarter worth $28,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $29,000. Richardson Financial Services Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories during the 1st quarter valued at about $30,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the second quarter worth about $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.1 %

Shares of NYSE ABT opened at $113.64 on Thursday. The business has a fifty day moving average price of $112.10 and a 200 day moving average price of $108.19. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock has a market capitalization of $197.69 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its earnings results 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 company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 earnings per share. Equities research analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Citigroup raised their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a research report on Thursday, September 26th. Finally, Evercore ISI increased their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.33.

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.