Glenmede Trust Co. NA Has $172.94 Million Position in Abbott Laboratories (NYSE:ABT)

Glenmede Trust Co. NA lessened its position in Abbott Laboratories (NYSE:ABT - Free Report) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,516,845 shares of the healthcare product maker's stock after selling 19,297 shares during the quarter. Abbott Laboratories comprises about 0.8% of Glenmede Trust Co. NA's investment portfolio, making the stock its 19th biggest position. Glenmede Trust Co. NA owned about 0.09% of Abbott Laboratories worth $172,935,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $28,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the third quarter worth approximately $31,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock worth $33,000 after acquiring an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories during the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 220,059 shares of the company's stock, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABT shares. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Raymond James reaffirmed a "buy" rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an "overweight" rating and a $131.00 target price for the company. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Finally, UBS Group upped their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average target price of $130.07.

Abbott Laboratories Trading Up 0.8 %

ABT traded up $0.99 during mid-day trading on Wednesday, reaching $118.95. The stock had a trading volume of 3,249,821 shares, compared to its average volume of 5,683,105. The stock has a market capitalization of $206.31 billion, a P/E ratio of 35.85, a P/E/G ratio of 2.78 and a beta of 0.72. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm's fifty day simple moving average is $115.59 and its two-hundred day simple moving average is $110.13.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. On average, equities analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories's dividend payout ratio is presently 66.87%.

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.