First Western Trust Bank cut its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,353 shares of the healthcare product maker’s stock after selling 1,452 shares during the period. Abbott Laboratories makes up about 0.4% of First Western Trust Bank’s holdings, making the stock its 28th biggest position. First Western Trust Bank’s holdings in Abbott Laboratories were worth $7,997,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of ABT. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Abbott Laboratories by 97,996.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,101,555,797 shares of the healthcare product maker’s stock worth $229,111,613,000 after purchasing an additional 2,099,413,455 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of Abbott Laboratories by 104,649.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock worth $3,320,866,000 after purchasing an additional 30,218,560 shares during the period. Norges Bank acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth $1,893,715,000. Wellington Management Group LLP raised its position in Abbott Laboratories by 40.5% during the first quarter. Wellington Management Group LLP now owns 20,820,152 shares of the healthcare product maker’s stock valued at $2,108,249,000 after buying an additional 6,003,997 shares during the period. Finally, Morgan Stanley raised its position in Abbott Laboratories by 14.3% during the fourth quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock valued at $4,278,132,000 after buying an additional 4,886,954 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Abbott Laboratories
In other news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $94.05, for a total value of $4,702,500.00. Following the completion of the transaction, the director now directly owns 6,725,316 shares of the company’s stock, valued at approximately $632,515,969.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Abbott Laboratories Stock Performance
NYSE:ABT traded up $0.69 during mid-day trading on Monday, hitting $100.24. 2,277,752 shares of the company’s stock traded hands, compared to its average volume of 5,135,073. The firm has a 50 day moving average of $96.47 and a two-hundred day moving average of $102.93. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $115.83. The firm has a market capitalization of $174.02 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 4.34 and a beta of 0.69. The company has a current ratio of 1.74, a quick ratio of 1.23 and a debt-to-equity ratio of 0.38.
Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Abbott Laboratories had a return on equity of 20.15% and a net margin of 12.92%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.15 EPS. On average, equities analysts forecast that Abbott Laboratories will post 4.44 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were issued a $0.51 dividend. The ex-dividend date was Thursday, October 12th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.04%. Abbott Laboratories’s payout ratio is presently 69.39%.
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.
- Five stocks we like better than Abbott Laboratories
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- Monday.com rocked earnings like it’s the weekend
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Plan to own one retailer? Make it this one
- Why Consider Investing in Nanotechnology Stocks
- Target these 3 hot retail stocks for Black Friday deals
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.