Sanibel Captiva Trust Company Inc. Raises Stock Holdings in Abbott Laboratories (NYSE:ABT)

Sanibel Captiva Trust Company Inc. grew its stake in Abbott Laboratories (NYSE:ABT) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,708 shares of the healthcare product maker’s stock after buying an additional 1,622 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Abbott Laboratories were worth $16,840,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories during the second quarter worth about $28,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories during the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories in the first quarter valued at approximately $30,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the 3rd quarter valued at $31,000. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABT. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday. They issued an “outperform” rating and a $130.00 price objective on the stock. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup lifted their target price 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, Piper Sandler started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.15.

Insider Activity

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. 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 owned by corporate insiders.

Abbott Laboratories Trading Up 1.2 %

NYSE ABT opened at $115.96 on Thursday. The stock’s fifty day moving average price is $112.73 and its 200-day moving average price is $108.21. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market cap of $201.73 billion, a P/E ratio of 36.12, a P/E/G ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a 12 month low of $89.67 and a 12 month 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, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 earnings per share. As a group, equities analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 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.