First National Trust Co Reduces Stock Holdings in Abbott Laboratories $ABT

First National Trust Co reduced its holdings in Abbott Laboratories (NYSE:ABT) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,032 shares of the healthcare product maker’s stock after selling 4,178 shares during the period. First National Trust Co’s holdings in Abbott Laboratories were worth $7,077,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Purkiss Capital Advisors LLC purchased a new stake in Abbott Laboratories in the second quarter valued at $230,000. Clark Asset Management LLC boosted its stake in shares of Abbott Laboratories by 78.1% in the second quarter. Clark Asset Management LLC now owns 4,045 shares of the healthcare product maker’s stock worth $550,000 after buying an additional 1,774 shares during the last quarter. May Hill Capital LLC boosted its stake in shares of Abbott Laboratories by 9.3% in the second quarter. May Hill Capital LLC now owns 3,483 shares of the healthcare product maker’s stock worth $474,000 after buying an additional 297 shares during the last quarter. Conscious Wealth Investments LLC boosted its position in Abbott Laboratories by 0.5% in the 2nd quarter. Conscious Wealth Investments LLC now owns 27,484 shares of the healthcare product maker’s stock worth $3,518,000 after purchasing an additional 135 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Abbott Laboratories by 101.1% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 499,788 shares of the healthcare product maker’s stock worth $67,976,000 after purchasing an additional 251,300 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.2%

Shares of Abbott Laboratories stock opened at $127.16 on Tuesday. The firm has a market capitalization of $221.31 billion, a PE ratio of 15.93, a P/E/G ratio of 2.41 and a beta of 0.69. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The firm’s 50-day moving average price is $132.03 and its 200 day moving average price is $131.64. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analyst Weigh In

Several research firms have commented on ABT. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a report on Thursday, October 16th. Evercore ISI lowered their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. The Goldman Sachs Group increased their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Barclays increased their price target on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories 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.