Peoples Bank OH Has $458,000 Holdings in Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Peoples Bank OH raised its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,013 shares of the healthcare product maker’s stock after acquiring an additional 115 shares during the quarter. Peoples Bank OH’s holdings in Abbott Laboratories were worth $458,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at $39,000. Wealthcare Advisory Partners LLC grew its holdings in shares of Abbott Laboratories by 23.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 15,110 shares of the healthcare product maker’s stock worth $1,717,000 after purchasing an additional 2,870 shares during the last quarter. Thrive Wealth Management LLC increased its stake in shares of Abbott Laboratories by 9.1% in the first quarter. Thrive Wealth Management LLC now owns 3,487 shares of the healthcare product maker’s stock valued at $396,000 after buying an additional 291 shares during the period. Norway Savings Bank boosted its position in Abbott Laboratories by 0.9% during the 1st quarter. Norway Savings Bank now owns 31,873 shares of the healthcare product maker’s stock worth $3,623,000 after buying an additional 271 shares during the period. Finally, Astoria Portfolio Advisors LLC. grew its holdings in Abbott Laboratories by 14.4% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 4,072 shares of the healthcare product maker’s stock worth $443,000 after acquiring an additional 514 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.4 %

ABT opened at $116.54 on Friday. The company has a fifty day moving average price of $114.46 and a two-hundred day moving average price of $108.62. Abbott Laboratories has a 1-year low of $91.64 and a 1-year high of $121.64. The company has a market cap of $202.74 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

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

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ABT shares. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Royal Bank of Canada lifted their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Raymond James reissued a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Sanford C. Bernstein upped their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.67.

View Our Latest Research Report on Abbott Laboratories

Abbott Laboratories Company Profile

(Free Report)

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.

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