AMG National Trust Bank Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

AMG National Trust Bank raised its position in shares of Abbott Laboratories (NYSE:ABT) by 36.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,923 shares of the healthcare product maker’s stock after buying an additional 11,925 shares during the quarter. AMG National Trust Bank’s holdings in Abbott Laboratories were worth $4,668,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after buying an additional 8,834,840 shares during the last quarter. Capital Research Global Investors raised its position in Abbott Laboratories by 9.5% during the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after buying an additional 7,527,778 shares during the last quarter. Capital International Investors raised its position in Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after buying an additional 5,882,780 shares during the last quarter. Wellington Management Group LLP raised its position in Abbott Laboratories by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock worth $3,548,228,000 after buying an additional 1,027,390 shares during the last quarter. Finally, Norges Bank purchased a new position in Abbott Laboratories during the 4th quarter worth approximately $2,115,836,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded up $0.59 on Friday, reaching $112.69. 4,511,637 shares of the company’s stock were exchanged, compared to its average volume of 5,979,149. The business’s 50-day moving average is $106.15 and its two-hundred day moving average is $108.71. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a market capitalization of $196.04 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. As a group, equities research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective on the stock. Barclays raised their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Evercore ISI reduced their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

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.