First International Bank & Trust Invests $201,000 in Abbott Laboratories (NYSE:ABT)

First International Bank & Trust bought a new stake in Abbott Laboratories (NYSE:ABT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,767 shares of the healthcare product maker’s stock, valued at approximately $201,000.

Other large investors also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $28,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories during the first quarter worth approximately $30,000. Richardson Financial Services Inc. purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.4 %

NYSE ABT traded up $0.41 on Friday, hitting $112.64. 4,366,288 shares of the stock traded hands, compared to its average volume of 5,757,640. The stock has a 50-day moving average of $112.37 and a 200 day moving average of $108.19. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a market capitalization of $195.95 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Ratings Changes

Several research firms have commented on ABT. Evercore ISI raised their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday. Piper Sandler initiated coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Barclays raised their price target 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. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

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.