Private Trust Co. NA Trims Position in Abbott Laboratories (NYSE:ABT)

Private Trust Co. NA trimmed its position in Abbott Laboratories (NYSE:ABT) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,973 shares of the healthcare product maker’s stock after selling 805 shares during the quarter. Private Trust Co. NA’s holdings in Abbott Laboratories were worth $2,733,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ABT. Zurich Insurance Group Ltd FI purchased a new stake in Abbott Laboratories during the 1st quarter valued at $2,160,000. Captrust Financial Advisors grew its holdings in Abbott Laboratories by 2.9% during the 1st quarter. Captrust Financial Advisors now owns 454,334 shares of the healthcare product maker’s stock valued at $51,640,000 after purchasing an additional 12,847 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth about $2,506,000. Industrial Alliance Investment Management Inc. lifted its stake in shares of Abbott Laboratories by 2.7% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 4,543 shares of the healthcare product maker’s stock worth $516,000 after acquiring an additional 120 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its stake in Abbott Laboratories by 28.1% in the first quarter. Icon Wealth Advisors LLC now owns 55,031 shares of the healthcare product maker’s stock worth $6,255,000 after purchasing an additional 12,068 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Evercore ISI upped their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Mizuho increased their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group boosted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Trading Up 0.3 %

Abbott Laboratories stock opened at $118.11 on Monday. The stock’s 50 day simple moving average is $115.58 and its two-hundred day simple moving average is $109.94. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The firm has a market cap of $204.86 billion, a PE ratio of 35.79, a P/E/G ratio of 2.77 and a beta of 0.72. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same period in the previous year, the business earned $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.86%. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

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.