Mechanics Financial Corp Sells 525 Shares of Abbott Laboratories (NYSE:ABT)

Mechanics Financial Corp cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,658 shares of the healthcare product maker’s stock after selling 525 shares during the period. Mechanics Financial Corp’s holdings in Abbott Laboratories were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of ABT. Alliance Wealth Advisors LLC UT grew its holdings in shares of Abbott Laboratories by 0.4% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock valued at $2,761,000 after buying an additional 92 shares during the period. Rappaport Reiches Capital Management LLC increased its stake in Abbott Laboratories by 0.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after buying an additional 94 shares during the last quarter. Avion Wealth raised its holdings in Abbott Laboratories by 19.4% during the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after acquiring an additional 96 shares in the last quarter. Renaissance Investment Group LLC lifted its holdings in Abbott Laboratories by 0.7% during the 4th quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock valued at $1,563,000 after purchasing an additional 100 shares during the last quarter. Finally, Drive Wealth Management LLC raised its position in shares of Abbott Laboratories by 1.5% in the fourth quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock valued at $739,000 after purchasing an additional 100 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 1.0 %

Shares of ABT traded down $1.04 during trading hours on Thursday, hitting $105.25. 1,259,436 shares of the stock were exchanged, compared to its average volume of 5,555,070. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The firm has a market capitalization of $182.63 billion, a P/E ratio of 33.11, a price-to-earnings-growth ratio of 2.55 and a beta of 0.76. The business has a 50-day moving average of $113.06 and a 200-day moving average of $108.43. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same period last year, the business posted $1.03 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.09%. Abbott Laboratories’s payout ratio is currently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research reports. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Citigroup lifted their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada decreased their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Finally, Barclays reduced their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Insider Buying and Selling at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,935 shares of company stock valued at $1,670,048 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

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.