M&T Bank Corp Has $110.42 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

M&T Bank Corp lowered its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 968,493 shares of the healthcare product maker's stock after selling 65,012 shares during the period. M&T Bank Corp owned approximately 0.06% of Abbott Laboratories worth $110,418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories during the third quarter valued at $32,000. Valued Wealth Advisors LLC grew its stake in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the 2nd quarter worth about $32,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ABT. Piper Sandler raised their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a "hold" rating in a research note on Thursday, October 17th. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an "overweight" rating and a $131.00 target price on the stock. Raymond James reiterated a "buy" rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, UBS Group raised their price objective on 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 eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $130.71.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded up $1.81 on Friday, hitting $114.23. 11,945,041 shares of the company were exchanged, compared to its average volume of 5,655,098. The company's 50 day moving average price is $116.04 and its two-hundred day moving average price is $111.50. The firm has a market capitalization of $198.13 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64.

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

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories's previous quarterly dividend of $0.55. Abbott Laboratories's payout ratio is 71.73%.

About Abbott Laboratories

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.