Abbott Laboratories (NYSE:ABT) Position Decreased by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA lowered its holdings in Abbott Laboratories (NYSE:ABT) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,484 shares of the healthcare product maker’s stock after selling 6,299 shares during the period. Abbott Laboratories makes up 3.4% of Mitchell Sinkler & Starr PA’s investment portfolio, making the stock its 3rd largest position. Mitchell Sinkler & Starr PA’s holdings in Abbott Laboratories were worth $12,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ABT. T. Rowe Price Investment Management Inc. raised its holdings in shares of Abbott Laboratories by 383.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock valued at $945,453,000 after acquiring an additional 6,628,310 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Abbott Laboratories by 15,420.4% in the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock valued at $676,866,000 after acquiring an additional 5,069,771 shares in the last quarter. Capital International Investors raised its holdings in shares of Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Northern Trust Corp increased its position in shares of Abbott Laboratories by 10.3% during the 4th quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker’s stock valued at $2,494,851,000 after purchasing an additional 2,060,650 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Abbott Laboratories by 27.6% during the 4th quarter. Invesco Ltd. now owns 9,018,429 shares of the healthcare product maker’s stock valued at $1,020,074,000 after purchasing an additional 1,948,329 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Piper Sandler reiterated an “overweight” rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Stifel Nicolaus increased their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Finally, Wells Fargo & Company reduced their price objective on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $144.47.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director directly owned 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

ABT opened at $126.53 on Friday. The firm has a market cap of $220.15 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.92 and a 1 year high of $141.23. The stock’s 50 day simple moving average is $132.39 and its 200 day simple moving average is $129.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. As a group, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Abbott Laboratories 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.