Fiduciary Trust Co Boosts Holdings in Abbott Laboratories (NYSE:ABT)

Fiduciary Trust Co lifted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 308,627 shares of the healthcare product maker's stock after acquiring an additional 6,772 shares during the quarter. Fiduciary Trust Co's holdings in Abbott Laboratories were worth $34,909,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ABT. Redwood Park Advisors LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories during the 4th quarter valued at $26,000. NewSquare Capital LLC raised its holdings in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at $28,000. Finally, Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at $29,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Down 0.4%

Abbott Laboratories stock traded down $0.50 during mid-day trading on Friday, reaching $133.50. The stock had a trading volume of 4,976,102 shares, compared to its average volume of 6,119,577. The company has a market capitalization of $232.27 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.52 and a beta of 0.74. The company has a 50-day moving average price of $129.80 and a two-hundred day moving average price of $123.56. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. On average, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's payout ratio is 30.61%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ABT shares. UBS Group boosted their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research report on Thursday, April 17th. Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Barclays boosted their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $142.59.

Insider Buying and Selling

In other news, SVP Eric Shroff sold 562 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the sale, the senior vice president now owns 31,970 shares of the company's stock, valued at $4,417,294.90. This trade represents a 1.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,278 shares of company stock worth $12,745,859 in the last quarter. Corporate insiders own 0.46% of the company's stock.

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.