Field & Main Bank Sells 190 Shares of Abbott Laboratories (NYSE:ABT)

Field & Main Bank lessened its holdings in Abbott Laboratories (NYSE:ABT) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 13,210 shares of the healthcare product maker’s stock after selling 190 shares during the period. Field & Main Bank’s holdings in Abbott Laboratories were worth $1,454,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Alliance Wealth Advisors LLC UT grew its holdings in shares of Abbott Laboratories by 0.4% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock valued at $2,761,000 after purchasing an additional 92 shares during the last quarter. Rappaport Reiches Capital Management LLC grew its holdings in shares of Abbott Laboratories by 0.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after purchasing an additional 94 shares during the last quarter. Avion Wealth grew its holdings in shares of Abbott Laboratories by 19.4% during the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after purchasing an additional 96 shares during the last quarter. Renaissance Investment Group LLC raised its holdings in Abbott Laboratories by 0.7% in the 4th quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock valued at $1,563,000 after buying an additional 100 shares during the last quarter. Finally, Drive Wealth Management LLC raised its holdings in Abbott Laboratories by 1.5% in the 4th quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock valued at $739,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In other news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now directly owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. Insiders have sold a total of 13,935 shares of company stock valued at $1,670,048 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT traded down $0.24 during mid-day trading on Monday, reaching $107.29. The stock had a trading volume of 3,306,015 shares, compared to its average volume of 5,632,260. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The firm has a 50 day moving average price of $113.50 and a two-hundred day moving average price of $108.34. The stock has a market capitalization of $186.17 billion, a P/E ratio of 33.42, a P/E/G ratio of 2.59 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. As a group, analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.05%. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABT. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada decreased their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Barclays decreased their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Finally, Citigroup increased their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.50.

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.