First Financial Bank Trust Division Trims Holdings in Abbott Laboratories (NYSE:ABT)

First Financial Bank Trust Division lessened its stake in Abbott Laboratories (NYSE:ABT) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,788 shares of the healthcare product maker’s stock after selling 4,570 shares during the period. Abbott Laboratories comprises about 1.7% of First Financial Bank Trust Division’s investment portfolio, making the stock its 14th largest position. First Financial Bank Trust Division’s holdings in Abbott Laboratories were worth $15,314,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Abbott Laboratories during the fourth quarter valued at $1,881,512,000. FMR LLC grew its holdings in shares of Abbott Laboratories by 20.3% during the fourth quarter. FMR LLC now owns 18,139,806 shares of the healthcare product maker’s stock valued at $1,986,127,000 after purchasing an additional 3,058,593 shares during the last quarter. Morgan Stanley raised its position in shares of Abbott Laboratories by 5.2% during the 4th quarter. Morgan Stanley now owns 26,687,412 shares of the healthcare product maker’s stock worth $2,922,006,000 after purchasing an additional 1,316,343 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Abbott Laboratories by 56.7% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,949,172 shares of the healthcare product maker’s stock valued at $321,943,000 after purchasing an additional 1,067,460 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Abbott Laboratories by 26,166.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 993,387 shares of the healthcare product maker’s stock worth $108,766,000 after buying an additional 989,605 shares during the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ABT traded up $0.54 during mid-day trading on Thursday, hitting $120.65. 15,688 shares of the company traded hands, compared to its average volume of 5,249,639. The business has a 50 day moving average of $119.99 and a two-hundred day moving average of $113.19. The stock has a market capitalization of $213.73 billion, a price-to-earnings ratio of 63.55, a PEG ratio of 2.06 and a beta of 0.83. Abbott Laboratories has a 1 year low of $81.05 and a 1 year high of $128.54. The company has a quick ratio of 1.19, a current ratio of 1.70 and a debt-to-equity ratio of 0.58.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Tuesday, January 26th. The healthcare product maker reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The company had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $9.94 billion. During the same period last year, the company posted $0.95 earnings per share. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. As a group, research analysts anticipate that Abbott Laboratories will post 3.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Shareholders of record on Thursday, April 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 55.56%.

In other news, EVP Andrea F. Wainer sold 6,200 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $121.79, for a total value of $755,098.00. Following the completion of the sale, the executive vice president now directly owns 51,550 shares of the company’s stock, valued at $6,278,274.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Randel William Woodgrift sold 1,034 shares of the firm’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $120.61, for a total transaction of $124,710.74. Following the sale, the senior vice president now owns 51,495 shares of the company’s stock, valued at $6,210,811.95. The disclosure for this sale can be found here. Insiders sold 27,476 shares of company stock valued at $3,366,543 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Several analysts recently weighed in on the stock. Raymond James lifted their price objective on shares of Abbott Laboratories from $126.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. SVB Leerink raised their price target on Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a report on Thursday, January 28th. Credit Suisse Group lifted their price objective on shares of Abbott Laboratories from $118.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Tuesday, February 2nd. Finally, Morgan Stanley upped their price target on shares of Abbott Laboratories from $126.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $122.47.

Abbott Laboratories Profile

Abbott Laboratories 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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