Sageworth Trust Co Purchases 89 Shares of Abbott Laboratories (NYSE:ABT)

Sageworth Trust Co raised its position in shares of Abbott Laboratories (NYSE:ABT) by 0.2% in the 1st quarter, Holdings Channel reports. The firm owned 36,084 shares of the healthcare product maker’s stock after acquiring an additional 89 shares during the period. Abbott Laboratories accounts for approximately 0.3% of Sageworth Trust Co’s holdings, making the stock its 23rd largest position. Sageworth Trust Co’s holdings in Abbott Laboratories were worth $4,787,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Abbott Laboratories by 2.8% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 220,023 shares of the healthcare product maker’s stock worth $29,186,000 after acquiring an additional 6,074 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in shares of Abbott Laboratories by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 325,520 shares of the healthcare product maker’s stock valued at $43,180,000 after purchasing an additional 4,300 shares during the last quarter. Astoria Portfolio Advisors LLC. boosted its position in Abbott Laboratories by 6.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 3,845 shares of the healthcare product maker’s stock valued at $499,000 after buying an additional 216 shares in the last quarter. ABLE Financial Group LLC grew its stake in shares of Abbott Laboratories by 3.0% during the first quarter. ABLE Financial Group LLC now owns 7,664 shares of the healthcare product maker’s stock worth $1,017,000 after buying an additional 222 shares during the last quarter. Finally, Family Capital Trust Co increased its holdings in shares of Abbott Laboratories by 0.9% during the first quarter. Family Capital Trust Co now owns 58,329 shares of the healthcare product maker’s stock worth $7,737,000 after buying an additional 520 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABT. Raymond James Financial boosted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. The Goldman Sachs Group boosted their price target on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Bank of America boosted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Royal Bank Of Canada raised their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.61.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $136.09 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a fifty day moving average of $132.94 and a 200-day moving average of $127.91. The firm has a market capitalization of $236.77 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.55 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.73%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.61%.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.

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 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.