Abbott Laboratories (NYSE:ABT) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 398,633 shares of the healthcare product maker’s stock after selling 20,409 shares during the period. Corebridge Financial Inc.’s holdings in Abbott Laboratories were worth $45,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABT. United Bank grew its stake in shares of Abbott Laboratories by 1.8% in the third quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock worth $3,111,000 after acquiring an additional 488 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in Abbott Laboratories by 0.4% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 24,902 shares of the healthcare product maker’s stock worth $2,839,000 after purchasing an additional 100 shares in the last quarter. StoneX Group Inc. increased its holdings in Abbott Laboratories by 10.9% during the 3rd quarter. StoneX Group Inc. now owns 12,915 shares of the healthcare product maker’s stock worth $1,472,000 after purchasing an additional 1,268 shares during the period. Larson Financial Group LLC raised its position in Abbott Laboratories by 11.0% in the 3rd quarter. Larson Financial Group LLC now owns 12,344 shares of the healthcare product maker’s stock valued at $1,407,000 after purchasing an additional 1,224 shares in the last quarter. Finally, Borer Denton & Associates Inc. grew its position in shares of Abbott Laboratories by 1.8% during the third quarter. Borer Denton & Associates Inc. now owns 78,253 shares of the healthcare product maker’s stock worth $8,922,000 after buying an additional 1,370 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays reiterated an “overweight” rating and issued a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Wells Fargo & Company increased their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Bank of America lifted their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Evercore ISI increased their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $137.94.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $126.18 on Monday. The stock’s 50-day moving average price is $128.51 and its 200 day moving average price is $119.94. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $218.83 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the sale, the executive vice president now owns 74,381 shares in the company, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Shroff sold 562 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares in the company, valued at $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock worth $15,463,316 over the last 90 days. Company insiders own 1.10% of the company’s stock.

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.