First Financial Bank N.A. Trust Division increased its stake in Abbott Laboratories (NYSE:ABT) by 13.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,392 shares of the healthcare product maker’s stock after buying an additional 18,150 shares during the period. Abbott Laboratories makes up about 1.2% of First Financial Bank N.A. Trust Division’s investment portfolio, making the stock its 23rd largest position. First Financial Bank N.A. Trust Division’s holdings in Abbott Laboratories were worth $6,614,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trust Co raised its stake in Abbott Laboratories by 10.7% in the first quarter. Trust Co now owns 48,124 shares of the healthcare product maker’s stock valued at $2,013,000 after buying an additional 4,666 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in Abbott Laboratories by 6.0% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 380,290 shares of the healthcare product maker’s stock valued at $14,949,000 after buying an additional 21,592 shares in the last quarter. British Columbia Investment Management Corp raised its stake in Abbott Laboratories by 0.4% in the second quarter. British Columbia Investment Management Corp now owns 679,187 shares of the healthcare product maker’s stock valued at $26,699,000 after buying an additional 2,600 shares in the last quarter. Washington Trust Bank raised its stake in Abbott Laboratories by 5.2% in the second quarter. Washington Trust Bank now owns 7,872 shares of the healthcare product maker’s stock valued at $309,000 after buying an additional 386 shares in the last quarter. Finally, NEXT Financial Group Inc raised its stake in Abbott Laboratories by 4.3% in the second quarter. NEXT Financial Group Inc now owns 15,955 shares of the healthcare product maker’s stock valued at $627,000 after buying an additional 660 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

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

Abbott Laboratories (NYSE:ABT) traded down 1.45% during mid-day trading on Wednesday, hitting $38.17. 6,673,813 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $39.99 and a 200 day moving average of $41.00. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.22. The stock has a market capitalization of $56.20 billion, a P/E ratio of 41.67 and a beta of 0.94.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.29 billion. Abbott Laboratories had a net margin of 6.61% and a return on equity of 15.46%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. Equities analysts forecast that Abbott Laboratories will post $2.21 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.69%. The ex-dividend date was Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 114.29%.

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Several analysts have recently commented on the stock. Bank of America Corp. reiterated a “buy” rating and issued a $50.00 price target on shares of Abbott Laboratories in a research report on Friday, August 12th. Deutsche Bank AG restated a “buy” rating on shares of Abbott Laboratories in a research report on Tuesday, August 9th. Jefferies Group raised their target price on shares of Abbott Laboratories from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. BTIG Research restated a “buy” rating and set a $45.00 target price on shares of Abbott Laboratories in a research report on Wednesday, August 10th. Finally, TheStreet upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Seven research 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. The stock currently has a consensus rating of “Buy” and an average price target of $47.02.

In other news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $41.71, for a total value of $33,993.65. Following the sale, the senior vice president now owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sally E. Blount bought 5,100 shares of the stock in a transaction dated Tuesday, November 1st. The stock was purchased at an average cost of $39.24 per share, for a total transaction of $200,124.00. Following the acquisition, the director now owns 20,143 shares in the company, valued at approximately $790,411.32. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by company insiders.

About Abbott Laboratories

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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