Hemenway Trust Co LLC Has $39.86 Million Holdings in Abbott Laboratories (NYSE:ABT)

Hemenway Trust Co LLC increased its position in Abbott Laboratories (NYSE:ABT) by 1.2% during the third quarter, Holdings Channel.com reports. The firm owned 349,606 shares of the healthcare product maker’s stock after buying an additional 4,289 shares during the quarter. Abbott Laboratories accounts for approximately 3.2% of Hemenway Trust Co LLC’s holdings, making the stock its 13th biggest position. Hemenway Trust Co LLC’s holdings in Abbott Laboratories were worth $39,859,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ABT. Vanguard Group Inc. boosted its position in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after buying an additional 8,834,840 shares during the last quarter. Capital International Investors increased its position in shares of Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after acquiring an additional 5,882,780 shares during the last quarter. Swedbank AB bought a new position in Abbott Laboratories during the first quarter valued at about $341,777,000. Sessa Capital IM L.P. bought a new stake in Abbott Laboratories in the second quarter worth about $264,876,000. Finally, Assenagon Asset Management S.A. lifted its stake in Abbott Laboratories by 493.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after purchasing an additional 1,996,320 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Down 0.1 %

Abbott Laboratories stock traded down $0.12 during trading hours on Tuesday, reaching $116.68. The company had a trading volume of 139,435 shares, compared to its average volume of 5,688,730. The firm has a market cap of $202.38 billion, a price-to-earnings ratio of 35.50, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 12-month low of $94.50 and a 12-month high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a 50-day moving average price of $115.39 and a 200 day moving average price of $109.28.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the prior year, the company posted $1.14 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Analysts Set New Price Targets

ABT has been the topic of several recent research reports. Mizuho upped their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Jefferies Financial Group raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Raymond James reaffirmed a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $130.07.

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.