Intrust Bank NA Raises Stake in Abbott Laboratories (ABT)

Intrust Bank NA raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,729 shares of the healthcare product maker’s stock after acquiring an additional 1,030 shares during the quarter. Intrust Bank NA’s holdings in Abbott Laboratories were worth $1,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Villere ST Denis J & Co. LLC grew its stake in shares of Abbott Laboratories by 2.3% in the second quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock valued at $13,037,000 after buying an additional 5,950 shares in the last quarter. Private Bank & Trust Co. grew its stake in shares of Abbott Laboratories by 12.3% in the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock valued at $1,473,000 after buying an additional 3,330 shares in the last quarter. Comerica Securities Inc. bought a new position in shares of Abbott Laboratories in the first quarter valued at $2,833,000. AQR Capital Management LLC grew its stake in shares of Abbott Laboratories by 264.8% in the first quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock valued at $28,173,000 after buying an additional 460,477 shares in the last quarter. Finally, Century Capital Management LLC bought a new position in shares of Abbott Laboratories in the first quarter valued at $4,332,000. 70.64% of the stock is owned by institutional investors.

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Shares of Abbott Laboratories (NYSE:ABT) opened at $54.80 on Monday. Abbott Laboratories has a twelve month low of $37.38 and a twelve month high of $56.69. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $95,384.93, a price-to-earnings ratio of 22.74, a PEG ratio of 2.05 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter last year, the firm earned $0.59 earnings per share. The company’s revenue was up 28.8% on a year-over-year basis. research analysts forecast that Abbott Laboratories will post 2.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 83.47%.

ABT has been the subject of several analyst reports. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. J P Morgan Chase & Co initiated coverage on shares of Abbott Laboratories in a research note on Friday, October 6th. They issued a “neutral” rating and a $60.00 target price for the company. Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Cowen and Company set a $68.00 price objective on shares of Abbott Laboratories and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $57.00 price objective (up from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $56.81.

In related news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the completion of the transaction, the executive vice president now owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The disclosure for this sale can be found here. Insiders have sold 408,313 shares of company stock valued at $21,205,356 in the last three months. Insiders own 0.76% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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