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

MidWestOne Financial Group Inc. reduced its stake in Abbott Laboratories (NYSE:ABT) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,580 shares of the healthcare product maker’s stock after selling 500 shares during the period. Abbott Laboratories accounts for approximately 0.6% of MidWestOne Financial Group Inc.’s holdings, making the stock its 23rd biggest position. MidWestOne Financial Group Inc.’s holdings in Abbott Laboratories were worth $4,590,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Cape Investment Advisory Inc. lifted its stake in Abbott Laboratories by 6.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock valued at $140,000 after buying an additional 76 shares in the last quarter. Capital Square LLC lifted its stake in Abbott Laboratories by 2.7% in the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock valued at $368,000 after buying an additional 77 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake in Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock valued at $107,000 after buying an additional 79 shares in the last quarter. Jacobson & Schmitt Advisors LLC lifted its stake in Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock valued at $320,000 after buying an additional 80 shares in the last quarter. Finally, LMG Wealth Partners LLC lifted its stake in Abbott Laboratories by 3.8% in the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after buying an additional 80 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE ABT opened at $135.18 on Wednesday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm has a market capitalization of $235.19 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The firm’s fifty day moving average price is $129.57 and its two-hundred day moving average price is $124.37. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th were issued a $0.59 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.75%. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Insider Buying and Selling at Abbott Laboratories

In related news, SVP Eric Shroff sold 562 shares of the company’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 $77,651.54. Following the transaction, the senior vice president now directly owns 31,970 shares in the company, valued at approximately $4,417,294.90. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrea F. Wainer sold 949 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 95,278 shares of company stock worth $12,745,859 over the last ninety days. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ABT shares. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Piper Sandler reissued an “overweight” rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. UBS Group boosted their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.59.

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.