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

M&T Bank Corp lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 968,493 shares of the healthcare product maker’s stock after selling 65,012 shares during the quarter. M&T Bank Corp owned about 0.06% of Abbott Laboratories worth $110,418,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ABT. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the third quarter valued at about $31,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC raised 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 valued at $33,000 after purchasing an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories in the second quarter worth $32,000. Finally, Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories during the third quarter worth $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on ABT shares. Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Mizuho upped their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley raised their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their price target on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, UBS Group lifted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.71.

Abbott Laboratories Stock Up 1.6 %

Shares of ABT opened at $114.23 on Friday. 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. 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 business’s fifty day moving average price is $116.04 and its two-hundred day moving average price is $111.50.

Abbott Laboratories (NYSE:ABT) 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, analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost 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 2.07%. Abbott Laboratories’s payout ratio is 71.73%.

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.