Home Federal Bank of Tennessee Sells 625 Shares of Abbott Laboratories (NYSE:ABT)

Home Federal Bank of Tennessee cut its stake in Abbott Laboratories (NYSE:ABT) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,669 shares of the healthcare product maker’s stock after selling 625 shares during the period. Abbott Laboratories makes up approximately 0.7% of Home Federal Bank of Tennessee’s holdings, making the stock its 23rd biggest position. Home Federal Bank of Tennessee’s holdings in Abbott Laboratories were worth $2,225,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ABT. Czech National Bank boosted its holdings in Abbott Laboratories by 6.9% in the 3rd quarter. Czech National Bank now owns 354,435 shares of the healthcare product maker’s stock valued at $40,409,000 after purchasing an additional 22,932 shares during the period. GAMMA Investing LLC raised its stake in shares of Abbott Laboratories by 25.1% in the 3rd quarter. GAMMA Investing LLC now owns 28,025 shares of the healthcare product maker’s stock valued at $3,195,000 after buying an additional 5,616 shares in the last quarter. WealthBridge Capital Management LLC raised its stake in shares of Abbott Laboratories by 23.1% in the 3rd quarter. WealthBridge Capital Management LLC now owns 7,616 shares of the healthcare product maker’s stock valued at $868,000 after buying an additional 1,427 shares in the last quarter. Diversified Trust Co raised its stake in shares of Abbott Laboratories by 22.3% in the 3rd quarter. Diversified Trust Co now owns 70,847 shares of the healthcare product maker’s stock valued at $8,077,000 after buying an additional 12,938 shares in the last quarter. Finally, Consilio Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at $208,000. 75.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ABT shares. Raymond James restated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Jefferies Financial Group increased 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 increased their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays reiterated an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Finally, Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Activity

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of ABT opened at $127.69 on Monday. 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 twelve month low of $99.71 and a twelve month high of $129.85. The firm’s 50 day moving average price is $116.37 and its two-hundred day moving average price is $114.32. The firm has a market cap of $221.47 billion, a P/E ratio of 16.69, a PEG ratio of 2.39 and a beta of 0.74.

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

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.