Fiduciary Trust Co. Has $22.71 Million Holdings in Abbott Laboratories (ABT)

Fiduciary Trust Co. raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.7% in the first quarter, HoldingsChannel reports. The firm owned 378,939 shares of the healthcare product maker’s stock after purchasing an additional 6,211 shares during the period. Fiduciary Trust Co.’s holdings in Abbott Laboratories were worth $22,706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $47,713,000. Folger Hill Asset Management LP bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $1,398,000. Teachers Insurance & Annuity Association of America increased its position in shares of Abbott Laboratories by 7.4% during the fourth quarter. Teachers Insurance & Annuity Association of America now owns 240,902 shares of the healthcare product maker’s stock valued at $13,748,000 after acquiring an additional 16,502 shares in the last quarter. Zeke Capital Advisors LLC increased its position in shares of Abbott Laboratories by 3.2% during the fourth quarter. Zeke Capital Advisors LLC now owns 70,476 shares of the healthcare product maker’s stock valued at $4,022,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Abbott Laboratories by 7.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 708,263 shares of the healthcare product maker’s stock valued at $40,421,000 after acquiring an additional 46,818 shares in the last quarter. 71.71% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on the stock. Wells Fargo raised their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. William Blair raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 25th. Barclays lifted their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Bank of America lifted their target price on shares of Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Finally, JPMorgan Chase lifted their target price on shares of Abbott Laboratories from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average target price of $68.35.

In other news, insider Jaime Contreras sold 849 shares of Abbott Laboratories stock in a transaction on Monday, April 23rd. The shares were sold at an average price of $59.36, for a total transaction of $50,396.64. Following the transaction, the insider now owns 50,436 shares in the company, valued at approximately $2,993,880.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen R. Fussell sold 56,401 shares of Abbott Laboratories stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total transaction of $3,362,063.61. Following the transaction, the insider now owns 184,884 shares in the company, valued at approximately $11,020,935.24. The disclosure for this sale can be found here. Insiders have sold a total of 86,214 shares of company stock worth $5,173,042 in the last quarter. Corporate insiders own 0.74% of the company’s stock.

Shares of Abbott Laboratories stock opened at $61.71 on Friday. The firm has a market cap of $107.05 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.75 and a beta of 1.50. Abbott Laboratories has a 1-year low of $43.01 and a 1-year high of $64.60. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.66.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. equities analysts expect that Abbott Laboratories will post 2.86 EPS for the current fiscal year.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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