Trust Point Inc. Has $2.94 Million Position in Abbott Laboratories (NYSE:ABT)

Trust Point Inc. lowered its position in Abbott Laboratories (NYSE:ABT - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,173 shares of the healthcare product maker's stock after selling 1,995 shares during the period. Trust Point Inc.'s holdings in Abbott Laboratories were worth $2,941,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Tallon Kerry Patrick acquired a new position in Abbott Laboratories in the fourth quarter worth approximately $200,000. LaFleur & Godfrey LLC grew its holdings in Abbott Laboratories by 23.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker's stock valued at $9,325,000 after purchasing an additional 15,692 shares during the last quarter. Brighton Jones LLC grew its holdings in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after purchasing an additional 4,755 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $29,120,000. Finally, Van ECK Associates Corp grew its holdings in Abbott Laboratories by 3.5% during the fourth quarter. Van ECK Associates Corp now owns 28,683 shares of the healthcare product maker's stock valued at $3,244,000 after purchasing an additional 957 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ABT. Raymond James increased their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Morgan Stanley increased their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a report on Thursday, April 17th. Barclays increased their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong 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 $142.59.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Down 0.8%

Shares of ABT stock opened at $135.41 on Monday. The stock has a market cap of $235.59 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The stock has a fifty day moving average price of $131.50 and a 200 day moving average price of $126.47. 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 issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.74%. Abbott Laboratories's payout ratio is presently 30.61%.

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.

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