Union Savings Bank Sells 272 Shares of Abbott Laboratories (NYSE:ABT)

Union Savings Bank reduced its stake in Abbott Laboratories (NYSE:ABT) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,645 shares of the healthcare product maker’s stock after selling 272 shares during the period. Union Savings Bank’s holdings in Abbott Laboratories were worth $1,147,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new position in Abbott Laboratories during the 4th quarter valued at about $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories in the 4th quarter worth about $26,000. NewSquare Capital LLC grew its stake in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after acquiring an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories in the 4th quarter worth about $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $29,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Up 0.4%

ABT stock opened at $132.88 on Friday. The firm has a market cap of $231.20 billion, a PE ratio of 17.24, a P/E/G ratio of 2.51 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The firm’s fifty day moving average is $132.19 and its 200 day moving average is $126.88. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results 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. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. On average, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s payout ratio is 30.61%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABT. Royal Bank Of Canada upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price for the company. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Raymond James Financial increased their target price on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Finally, Bank of America increased their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.61.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now directly owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.46% 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.