Truist Financial Corp Has $159.91 Million Stake in Abbott Laboratories (NYSE:ABT)

Truist Financial Corp trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,413,727 shares of the healthcare product maker's stock after selling 61,579 shares during the period. Truist Financial Corp owned about 0.08% of Abbott Laboratories worth $159,907,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Welch Group LLC boosted its stake in Abbott Laboratories by 5.3% in the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker's stock worth $7,744,000 after purchasing an additional 3,479 shares during the period. Bath Savings Trust Co raised its holdings in shares of Abbott Laboratories by 3.7% during the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker's stock valued at $18,791,000 after purchasing an additional 5,881 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after buying an additional 2,774 shares during the last quarter. Simplify Asset Management Inc. grew its stake in Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker's stock valued at $1,606,000 after buying an additional 5,664 shares during the last quarter. Finally, Pensionfund Sabic acquired a new stake in Abbott Laboratories in the 4th quarter worth $2,828,000. 75.18% of the stock is currently owned by institutional investors.

Insider Activity

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company's stock.

Abbott Laboratories Stock Performance

NYSE ABT traded up $1.08 on Thursday, hitting $133.21. 5,043,771 shares of the stock were exchanged, compared to its average volume of 6,580,481. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business's fifty day moving average is $119.93 and its 200 day moving average is $116.53. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $133.28. The company has a market capitalization of $231.05 billion, a PE ratio of 17.41, a P/E/G ratio of 2.43 and a beta of 0.75.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 earnings per share. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th were given a $0.59 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This is a positive change from Abbott Laboratories's previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories's dividend payout ratio is presently 30.85%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Argus raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Tuesday, January 28th. Evercore ISI boosted their target price on shares of Abbott Laboratories to $136.00 and gave the stock a "buy" rating in a research note on Thursday, January 2nd. Royal Bank of Canada reissued an "outperform" rating and set a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus boosted their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.06.

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.