Hancock Whitney Corp Sells 1,169 Shares of Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Hancock Whitney Corp reduced its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 6.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,236 shares of the healthcare product maker’s stock after selling 1,169 shares during the period. Hancock Whitney Corp’s holdings in Abbott Laboratories were worth $1,950,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Empire Financial Management Company LLC increased its position in shares of Abbott Laboratories by 1.4% during the 4th quarter. Empire Financial Management Company LLC now owns 39,326 shares of the healthcare product maker’s stock valued at $4,448,000 after purchasing an additional 533 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Abbott Laboratories by 3.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 36,987 shares of the healthcare product maker’s stock valued at $4,184,000 after acquiring an additional 1,330 shares during the last quarter. Burling Wealth Partners LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $9,554,000. J. Stern & Co. LLP lifted its holdings in shares of Abbott Laboratories by 5.4% in the 4th quarter. J. Stern & Co. LLP now owns 315,433 shares of the healthcare product maker’s stock worth $35,679,000 after acquiring an additional 16,300 shares during the last quarter. Finally, Syon Capital LLC boosted its stake in shares of Abbott Laboratories by 6.5% in the 4th quarter. Syon Capital LLC now owns 19,631 shares of the healthcare product maker’s stock valued at $2,220,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ABT. Bank of America boosted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Barclays increased their target price on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. UBS Group boosted their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Piper Sandler restated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Finally, Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $142.59.

Get Our Latest Report on ABT

Abbott Laboratories Trading Down 0.4 %

ABT opened at $129.38 on Friday. The stock has a market cap of $224.39 billion, a PE ratio of 16.91, a PEG ratio of 2.52 and a beta of 0.80. The business has a 50 day moving average of $130.57 and a 200-day moving average of $122.31. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.82%. Abbott Laboratories’s payout ratio is 30.61%.

Insider Transactions at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 74,381 shares of the company’s stock, 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 116,449 shares of company stock valued at $15,463,316 in the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

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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