Atlantic Union Bankshares Corp Sells 14,629 Shares of Abbott Laboratories (NYSE:ABT)

Atlantic Union Bankshares Corp lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 14.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,540 shares of the healthcare product maker’s stock after selling 14,629 shares during the quarter. Abbott Laboratories makes up about 0.9% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 23rd largest position. Atlantic Union Bankshares Corp’s holdings in Abbott Laboratories were worth $9,217,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $28,000. Monumental Financial Group Inc. acquired a new stake in Abbott Laboratories in the 1st quarter valued at $32,000. FWL Investment Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at $33,000. True Wealth Design LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at $33,000. Finally, Ridgewood Investments LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $113.76, for a total value of $5,688,000.00. Following the completion of the sale, the director now owns 6,775,316 shares in the company, valued at $770,759,948.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $113.76, for a total value of $5,688,000.00. Following the completion of the sale, the director now owns 6,775,316 shares in the company, valued at $770,759,948.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 10,400 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total value of $1,092,312.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $6,829,785.81. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Down 0.1 %

ABT stock opened at $101.65 on Monday. The company has a market cap of $176.40 billion, a P/E ratio of 34.72, a PEG ratio of 4.59 and a beta of 0.68. Abbott Laboratories has a twelve month low of $93.25 and a twelve month high of $115.83. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $106.17 and a 200-day moving average of $105.24.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. The company had revenue of $9.98 billion during the quarter, compared to the consensus estimate of $9.71 billion. Abbott Laboratories had a return on equity of 20.50% and a net margin of 12.83%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 4.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABT. Morgan Stanley reaffirmed an “equal weight” rating and issued a $112.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Mizuho boosted their price target on Abbott Laboratories from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Wolfe Research raised Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research note on Friday, July 21st. Barclays boosted their price objective on Abbott Laboratories from $127.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. Finally, StockNews.com initiated coverage on Abbott Laboratories in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $120.82.

Abbott Laboratories Company 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 Established Pharmaceutical Products segment 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.