Cullen Frost Bankers Inc. Sells 6,101 Shares of Abbott Laboratories (NYSE:ABT)

Cullen Frost Bankers Inc. decreased its position in Abbott Laboratories (NYSE:ABT) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 266,914 shares of the healthcare product maker’s stock after selling 6,101 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Abbott Laboratories were worth $29,379,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Alliance Wealth Advisors LLC UT increased its position in Abbott Laboratories by 0.4% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after acquiring an additional 92 shares during the period. Rappaport Reiches Capital Management LLC increased its position in Abbott Laboratories by 0.8% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after acquiring an additional 94 shares during the period. Avion Wealth increased its position 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 during the period. Renaissance Investment Group LLC increased its position in Abbott Laboratories by 0.7% during the fourth quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock worth $1,563,000 after acquiring an additional 100 shares during the period. Finally, Drive Wealth Management LLC increased its position in Abbott Laboratories by 1.5% during the fourth quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock worth $739,000 after acquiring an additional 100 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the business’s 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 completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the business’s 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 completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. In the last three months, insiders sold 13,935 shares of company stock valued at $1,670,048. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $0.53 on Tuesday, hitting $106.17. The stock had a trading volume of 6,555,967 shares, compared to its average volume of 5,552,894. The firm’s 50 day moving average price is $112.00 and its 200-day moving average price is $108.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a market capitalization of $184.70 billion, a price-to-earnings ratio of 33.07, a price-to-earnings-growth ratio of 2.55 and a beta of 0.76.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 dividend on an annualized basis and a dividend yield of 2.07%. Abbott Laboratories’s dividend payout ratio is 68.54%.

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.