First Western Trust Bank decreased its position in Abbott Laboratories (NYSE:ABT – Free Report) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,353 shares of the healthcare product maker’s stock after selling 1,452 shares during the quarter. Abbott Laboratories accounts for approximately 0.4% of First Western Trust Bank’s holdings, making the stock its 28th largest holding. First Western Trust Bank’s holdings in Abbott Laboratories were worth $7,997,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Abbott Laboratories by 97,996.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,101,555,797 shares of the healthcare product maker’s stock valued at $229,111,613,000 after purchasing an additional 2,099,413,455 shares during the period. Morgan Stanley raised its stake in shares of Abbott Laboratories by 14.3% in the 4th quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock valued at $4,278,132,000 after purchasing an additional 4,886,954 shares during the period. Geode Capital Management LLC raised its stake in shares of Abbott Laboratories by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 31,196,788 shares of the healthcare product maker’s stock valued at $3,151,497,000 after purchasing an additional 598,164 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of Abbott Laboratories by 104,649.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock valued at $3,320,866,000 after purchasing an additional 30,218,560 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Abbott Laboratories by 40.5% in the 1st 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 purchasing an additional 6,003,997 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.
Abbott Laboratories Stock Performance
Shares of NYSE:ABT traded up $0.69 during trading on Monday, reaching $100.24. 2,277,752 shares of the stock were exchanged, compared to its average volume of 5,135,073. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $115.83. The firm has a market cap of $174.02 billion, a PE ratio of 33.71, a PEG ratio of 4.34 and a beta of 0.69. The stock has a 50-day moving average price of $96.47 and a 200-day moving average price of $102.93. 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 Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 69.39%.
Insider Transactions at Abbott Laboratories
In other news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $94.05, for a total value of $4,702,500.00. Following the completion of the sale, the director now directly owns 6,725,316 shares in the company, valued at $632,515,969.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.
Analysts Set New Price Targets
ABT has been the topic of a number of recent research reports. Barclays lifted their target price on Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. Wells Fargo & Company lowered their target price on Abbott Laboratories from $136.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday, October 19th. Morgan Stanley lowered their target price on Abbott Laboratories from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 19th. UBS Group lowered their target price on Abbott Laboratories from $130.00 to $118.00 in a research report on Thursday, October 19th. Finally, Raymond James lowered their target price on Abbott Laboratories from $123.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, October 19th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $117.47.
About Abbott Laboratories
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.
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