Trade Report: The First National Trust Co. Acquires 1,285 Shares of Abbott Laboratories (ABT)

The First National Trust Co. Acquires 1,285 Shares of Abbott Laboratories (ABT)

First National Trust Co. raised its stake in Abbott Laboratories (NYSE:ABT) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,224 shares of the healthcare product maker’s stock after buying an additional 1,285 shares during the period. First National Trust Co.’s holdings in Abbott Laboratories were worth $2,288,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Northside Capital Management LLC increased its stake in Abbott Laboratories by 3.8% in the second quarter. Northside Capital Management LLC now owns 9,503 shares of the healthcare product maker’s stock valued at $374,000 after buying an additional 346 shares in the last quarter. Agran Libbie increased its stake in Abbott Laboratories by 20.1% in the second quarter. Agran Libbie now owns 41,134 shares of the healthcare product maker’s stock valued at $1,617,000 after buying an additional 6,875 shares in the last quarter. Dividend Assets Capital LLC increased its stake in Abbott Laboratories by 5.0% in the second quarter. Dividend Assets Capital LLC now owns 7,351 shares of the healthcare product maker’s stock valued at $289,000 after buying an additional 350 shares in the last quarter. Ramsay Stattman Vela & Price Inc. increased its stake in Abbott Laboratories by 21.3% in the second quarter. Ramsay Stattman Vela & Price Inc. now owns 137,045 shares of the healthcare product maker’s stock valued at $5,387,000 after buying an additional 24,110 shares in the last quarter. Finally, Chase Investment Counsel Corp increased its stake in Abbott Laboratories by 7.7% in the second quarter. Chase Investment Counsel Corp now owns 6,890 shares of the healthcare product maker’s stock valued at $270,000 after buying an additional 490 shares in the last quarter. Institutional investors and hedge funds own 73.03% of the company’s stock.

Abbott Laboratories (NYSE:ABT) remained flat at $40.98 during midday trading on Thursday. 6,444,660 shares of the stock were exchanged. The company has a market capitalization of $60.24 billion, a PE ratio of 27.05 and a beta of 0.87. The company has a 50 day moving average price of $42.08 and a 200 day moving average price of $41.39. Abbott Laboratories has a one year low of $36.00 and a one year high of $46.38.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. The firm earned $5.30 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period last year, the company earned $0.52 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post ($0.01) EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.54%. Abbott Laboratories’s payout ratio is presently 68.87%.

Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Bank of America Corp. reiterated a “buy” rating on shares of Abbott Laboratories in a research report on Monday, September 19th. Royal Bank Of Canada restated an “outperform” rating and set a $48.00 price target on shares of Abbott Laboratories in a report on Monday, September 19th. Jefferies Group lowered their price target on shares of Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, September 13th. Finally, TheStreet upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $47.02.

In related news, SVP Daniel Gesua Sive Salvadori sold 815 shares of Abbott Laboratories stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $41.71, for a total value of $33,993.65. Following the completion of the sale, the senior vice president now directly owns 59,791 shares in the company, valued at approximately $2,493,882.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Miles D. White acquired 242,547 shares of Abbott Laboratories stock in a transaction that occurred on Monday, July 25th. The stock was acquired at an average price of $43.18 per share, with a total value of $10,473,179.46. Following the completion of the acquisition, the chairman now directly owns 2,010,517 shares in the company, valued at approximately $86,814,124.06. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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