First National Corp MA ADV Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

First National Corp MA ADV reduced its position in Abbott Laboratories (NYSE:ABT) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,145 shares of the healthcare product maker’s stock after selling 1,064 shares during the quarter. First National Corp MA ADV’s holdings in Abbott Laboratories were worth $1,271,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth approximately $28,000. Transcendent Capital Group LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new position in shares of Abbott Laboratories in the fourth quarter worth about $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $30,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories during the 3rd quarter valued at about $31,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABT has been the subject of a number of analyst reports. Barclays increased their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Citigroup boosted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler Companies started coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Piper Sandler started coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Finally, Oppenheimer started coverage on Abbott Laboratories in a report on Tuesday. They set an “outperform” rating and a $130.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.15.

Abbott Laboratories Stock Up 0.1 %

Shares of ABT traded up $0.15 during mid-day trading on Wednesday, reaching $114.78. The company had a trading volume of 282,601 shares, compared to its average volume of 5,728,226. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. 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 company has a market capitalization of $199.68 billion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. The firm has a 50-day moving average price of $112.73 and a 200 day moving average price of $108.21.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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 return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same period last year, the company earned $1.08 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 1.92%. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.