Bank of Stockton Has $2.29 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Bank of Stockton cut its position in Abbott Laboratories (NYSE:ABT) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,105 shares of the healthcare product maker’s stock after selling 345 shares during the period. Bank of Stockton’s holdings in Abbott Laboratories were worth $2,292,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. BDF Gestion acquired a new stake in Abbott Laboratories during the 2nd quarter valued at $7,651,000. Dundas Partners LLP lifted its position in Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after buying an additional 6,897 shares in the last quarter. Duality Advisers LP bought a new stake in Abbott Laboratories during the 1st quarter worth about $5,634,000. Oak Harvest Investment Services raised its stake in shares of Abbott Laboratories by 32.7% in the first quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock worth $8,371,000 after acquiring an additional 18,131 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Abbott Laboratories by 40.3% in the first quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock worth $5,624,000 after acquiring an additional 14,215 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Down 0.9 %

Shares of Abbott Laboratories stock traded down $1.05 during trading hours on Friday, hitting $115.49. The company’s stock had a trading volume of 1,008,464 shares, compared to its average volume of 5,700,374. The company has a market capitalization of $200.91 billion, a PE ratio of 35.91, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock has a 50 day moving average of $114.57 and a 200 day moving average of $108.67. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. Analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 yield of 1.90%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Ratings Changes

Several research analysts recently weighed in on ABT shares. Oppenheimer started coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Mizuho boosted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays raised their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred 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 sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade 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.

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.