First National Bank & Trust Co. of Newtown Has $1.31 Million Position in Abbott Laboratories (NYSE:ABT)

First National Bank & Trust Co. of Newtown trimmed its position in Abbott Laboratories (NYSE:ABT) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,561 shares of the healthcare product maker’s stock after selling 100 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in Abbott Laboratories were worth $1,305,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Abbott Laboratories by 5.6% in the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after purchasing an additional 8,834,840 shares during the period. Capital Research Global Investors increased its holdings in Abbott Laboratories by 9.5% in the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after buying an additional 7,527,778 shares during the period. Capital International Investors raised its position in shares of Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock worth $3,548,228,000 after acquiring an additional 1,027,390 shares during the period. Finally, Norges Bank bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $2,115,836,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.6 %

NYSE ABT traded up $0.71 on Thursday, reaching $112.10. The company had a trading volume of 3,420,118 shares, compared to its average volume of 5,988,217. The firm has a market cap of $195.01 billion, a price-to-earnings ratio of 34.72, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The business has a 50 day moving average of $105.80 and a two-hundred day moving average of $108.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABT. Citigroup raised their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Barclays lifted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Evercore ISI cut their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

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 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.