Trust Co. of Toledo NA OH Sells 1,520 Shares of Abbott Laboratories (NYSE:ABT)

Trust Co. of Toledo NA OH decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.0% during the second quarter, HoldingsChannel reports. The firm owned 76,161 shares of the healthcare product maker’s stock after selling 1,520 shares during the period. Abbott Laboratories comprises 1.4% of Trust Co. of Toledo NA OH’s portfolio, making the stock its 14th largest holding. Trust Co. of Toledo NA OH’s holdings in Abbott Laboratories were worth $8,303,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ABT. Altshuler Shaham Ltd purchased a new stake in Abbott Laboratories during the fourth quarter worth $28,000. Monumental Financial Group Inc. bought a new stake in Abbott Laboratories during the first quarter valued at about $32,000. FWL Investment Management LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $33,000. True Wealth Design LLC bought a new position in Abbott Laboratories in the fourth quarter worth about $33,000. Finally, Elequin Securities LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Abbott Laboratories Stock Down 0.9 %

Shares of ABT stock opened at $101.76 on Friday. Abbott Laboratories has a twelve month low of $93.25 and a twelve month high of $115.83. The stock has a market cap of $176.59 billion, a P/E ratio of 34.73, a P/E/G ratio of 4.59 and a beta of 0.68. The stock has a 50 day moving average of $106.26 and a 200 day moving average of $105.17. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.39.

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

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Mizuho increased their target price on shares of Abbott Laboratories from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Morgan Stanley reissued an “equal weight” rating and issued a $112.00 price objective on shares of Abbott Laboratories in a research report on Friday, July 21st. Wolfe Research raised Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research report on Friday, July 21st. Barclays boosted their price target 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 assumed coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.82.

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 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.