Amalgamated Bank Sells 6,283 Shares of Abbott Laboratories $ABT

Amalgamated Bank decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 355,793 shares of the healthcare product maker’s stock after selling 6,283 shares during the period. Amalgamated Bank’s holdings in Abbott Laboratories were worth $47,655,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. grew its stake in Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 167 shares in the last quarter. Anfield Capital Management LLC boosted its holdings in shares of Abbott Laboratories by 81.3% in the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in Abbott Laboratories during the second quarter valued at about $32,000. Curio Wealth LLC increased its holdings in Abbott Laboratories by 15,250.0% during the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after buying an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC boosted its stake in Abbott Laboratories by 34.6% in the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after acquiring an additional 81 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 1.4%

ABT stock opened at $121.82 on Friday. The stock has a market cap of $211.83 billion, a P/E ratio of 15.27, a PEG ratio of 2.02 and a beta of 0.72. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a twelve month low of $113.39 and a twelve month high of $141.23. The company’s 50 day moving average is $126.01 and its two-hundred day moving average is $128.95.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the prior year, the business earned $1.21 EPS. Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is currently 31.58%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABT. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $150.00 to $154.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. BTIG Research reaffirmed a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research report on Thursday, November 20th. Finally, Daiwa Capital Markets upped their price target on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.42.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.