First American Trust FSB Has $15.02 Million Stock Position in Abbott Laboratories (NYSE:ABT)

First American Trust FSB raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the first quarter, Holdings Channel reports. The firm owned 113,215 shares of the healthcare product maker’s stock after buying an additional 1,790 shares during the period. Abbott Laboratories comprises 1.4% of First American Trust FSB’s holdings, making the stock its 18th biggest holding. First American Trust FSB’s holdings in Abbott Laboratories were worth $15,018,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ABT. Brighton Jones LLC boosted 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 in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in Abbott Laboratories by 26.1% during the fourth quarter. Kennedy Capital Management LLC now owns 49,757 shares of the healthcare product maker’s stock valued at $5,628,000 after purchasing an additional 10,306 shares in the last quarter. Jaffetilchin Investment Partners LLC raised its stake in shares of Abbott Laboratories by 22.3% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 1,931 shares of the healthcare product maker’s stock valued at $218,000 after acquiring an additional 352 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Abbott Laboratories by 19.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 794,752 shares of the healthcare product maker’s stock valued at $89,895,000 after acquiring an additional 129,495 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ABT. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Leerink Partners began coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price for the company. Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and lifted their target price for the company from $143.00 to $145.00 in a research note on Friday, July 18th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.47.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $134.41 on Friday. The firm has a fifty day moving average of $131.69 and a two-hundred day moving average of $131.07. The stock has a market capitalization of $233.93 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 2.55 and a beta of 0.70. Abbott Laboratories has a 52 week low of $107.11 and a 52 week high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s payout ratio is 29.57%.

About Abbott Laboratories

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.