Bath Savings Trust Co Grows Stake in Abbott Laboratories (NYSE:ABT)

Bath Savings Trust Co lifted its stake in Abbott Laboratories (NYSE:ABT) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,251 shares of the healthcare product maker’s stock after purchasing an additional 1,944 shares during the quarter. Abbott Laboratories accounts for approximately 1.8% of Bath Savings Trust Co’s holdings, making the stock its 19th biggest position. Bath Savings Trust Co’s holdings in Abbott Laboratories were worth $18,270,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Regal Investment Advisors LLC lifted its position in Abbott Laboratories by 9.6% in the 4th quarter. Regal Investment Advisors LLC now owns 10,800 shares of the healthcare product maker’s stock valued at $1,189,000 after acquiring an additional 943 shares in the last quarter. Nomura Holdings Inc. boosted its position in shares of Abbott Laboratories by 1,566.0% during the fourth quarter. Nomura Holdings Inc. now owns 34,986 shares of the healthcare product maker’s stock valued at $3,851,000 after buying an additional 32,886 shares during the last quarter. Vontobel Asset Management Inc. increased its holdings in Abbott Laboratories by 11.3% in the 4th quarter. Vontobel Asset Management Inc. now owns 6,163,414 shares of the healthcare product maker’s stock worth $714,578,000 after buying an additional 625,670 shares in the last quarter. MGO One Seven LLC raised its position in Abbott Laboratories by 30.3% in the 4th quarter. MGO One Seven LLC now owns 23,743 shares of the healthcare product maker’s stock worth $2,613,000 after buying an additional 5,521 shares during the last quarter. Finally, Greystone Financial Group LLC boosted its holdings in shares of Abbott Laboratories by 59.7% during the 4th quarter. Greystone Financial Group LLC now owns 79,317 shares of the healthcare product maker’s stock valued at $8,730,000 after acquiring an additional 29,666 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.6 %

ABT opened at $113.35 on Tuesday. Abbott Laboratories has a one year low of $89.67 and a one year 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 stock has a market cap of $197.19 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 2.86 and a beta of 0.72. The stock’s 50 day moving average price is $112.37 and its 200-day moving average price is $108.16.

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, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. On average, equities analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

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 paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

ABT has been the subject of a number of research reports. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Piper Sandler started coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Citigroup boosted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, 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.