NBT Bank N A NY Has $12.94 Million Holdings in Abbott Laboratories (NYSE:ABT)

NBT Bank N A NY cut its stake in Abbott Laboratories (NYSE:ABT) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,408 shares of the healthcare product maker’s stock after selling 1,015 shares during the period. Abbott Laboratories comprises approximately 0.9% of NBT Bank N A NY’s holdings, making the stock its 25th largest holding. NBT Bank N A NY’s holdings in Abbott Laboratories were worth $12,941,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Abbott Laboratories during the 4th quarter valued at $635,056,000. Massachusetts Financial Services Co. MA increased its holdings in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. State Street Corp increased its stake in shares of Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after buying an additional 2,323,807 shares during the period. Sessa Capital IM L.P. increased its stake in shares of Abbott Laboratories by 47.1% in the 3rd quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock valued at $427,481,000 after buying an additional 1,200,409 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Abbott Laboratories by 22,372.2% in the 4th quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock valued at $135,886,000 after buying an additional 1,196,018 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Eric Shroff sold 562 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

NYSE:ABT opened at $137.23 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. The stock’s 50-day simple moving average is $125.35 and its 200 day simple moving average is $118.82. The company has a market cap of $238.00 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results 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. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 earnings per share. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Wall Street Analyst Weigh In

ABT has been the subject of a number of analyst reports. UBS Group lifted their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Evercore ISI lifted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Wells Fargo & Company lifted their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.19.

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.