First National Advisers LLC Reduces Stock Holdings in Abbott Laboratories (NYSE:ABT)

Key Points

• First National Advisers LLC reduced its stake in Abbott Laboratories by 7.0%, now holding 65,629 shares, valued at approximately $8.7 million.
• Abbott Laboratories reported a quarterly earnings per share of $1.26, aligning with consensus estimates, and a revenue of $11.14 billion, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.59 per share, with an annualized yield of 1.87%, highlighting its commitment to shareholder returns.

First National Advisers LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,629 shares of the healthcare product maker's stock after selling 4,972 shares during the quarter. Abbott Laboratories comprises approximately 1.4% of First National Advisers LLC's portfolio, making the stock its 11th largest position. First National Advisers LLC's holdings in Abbott Laboratories were worth $8,706,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its position in Abbott Laboratories by 383.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock valued at $945,453,000 after acquiring an additional 6,628,310 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Abbott Laboratories by 15,420.4% in the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock valued at $676,866,000 after purchasing an additional 5,069,771 shares during the last quarter. Capital International Investors grew its position in shares of Abbott Laboratories by 3.4% in the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock valued at $7,688,160,000 after purchasing an additional 2,229,026 shares during the last quarter. Northern Trust Corp boosted its position in Abbott Laboratories by 10.3% during the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock worth $2,494,851,000 after acquiring an additional 2,060,650 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Abbott Laboratories by 27.6% in the 4th quarter. Invesco Ltd. now owns 9,018,429 shares of the healthcare product maker's stock valued at $1,020,074,000 after purchasing an additional 1,948,329 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ABT shares. BTIG Research cut their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Wells Fargo & Company decreased their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Royal Bank Of Canada lifted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Finally, Morgan Stanley boosted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Price Performance

ABT traded down $1.42 during midday trading on Thursday, hitting $127.13. The stock had a trading volume of 2,369,716 shares, compared to its average volume of 6,928,002. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a 1 year low of $103.55 and a 1 year high of $141.23. The business has a fifty day moving average of $131.97 and a 200 day moving average of $130.17. The company has a market cap of $221.19 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 2.43 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

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.