Ledyard National Bank raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,037 shares of the healthcare product maker’s stock after buying an additional 2,140 shares during the quarter. Ledyard National Bank’s holdings in Abbott Laboratories were worth $1,994,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ABT. Atwood & Palmer Inc. grew its position in shares of Abbott Laboratories by 157.5% during the 1st quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after buying an additional 2,000 shares during the period. Independent Portfolio Consultants Inc. grew its position in shares of Abbott Laboratories by 9.3% during the 1st quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock worth $152,000 after buying an additional 292 shares during the period. Farmers National Bank grew its position in shares of Abbott Laboratories by 1.5% during the 1st quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after buying an additional 52 shares during the period. Advantage Investment Management LLC grew its position in shares of Abbott Laboratories by 17.3% during the 1st quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock worth $163,000 after buying an additional 543 shares during the period. Finally, Delta Asset Management LLC TN grew its position in shares of Abbott Laboratories by 1.3% during the 1st quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after buying an additional 51 shares during the period. Institutional investors own 71.50% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this article can be viewed at https://www.watchlistnews.com/ledyard-national-bank-has-1-99-million-stake-in-abbott-laboratories-abt/1613280.html.

In related news, insider Brian J. Blaser sold 15,000 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $750,000.00. Following the transaction, the insider now owns 143,154 shares of the company’s stock, valued at $7,157,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sharon J. Bracken sold 2,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the transaction, the insider now directly owns 28,806 shares in the company, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 333,310 shares of company stock worth $16,857,255. 0.76% of the stock is owned by insiders.

Several equities analysts have recently issued reports on the company. J P Morgan Chase & Co assumed coverage on Abbott Laboratories in a research report on Friday. They set a “neutral” rating and a $60.00 target price for the company. BidaskClub lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, June 29th. Morgan Stanley restated an “equal weight” rating on shares of Abbott Laboratories in a research report on Monday, July 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Friday, July 21st. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $54.75.

Abbott Laboratories (NYSE ABT) traded down 0.646% during midday trading on Friday, reaching $54.565. The company’s stock had a trading volume of 1,915,472 shares. The firm has a market cap of $94.80 billion, a P/E ratio of 76.422 and a beta of 1.06. The firm has a 50 day moving average of $51.55 and a 200 day moving average of $47.69. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $55.11.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. Abbott Laboratories’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 1.93%. Abbott Laboratories’s payout ratio is 149.30%.

Abbott Laboratories Company Profile

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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with Analyst Ratings Network's FREE daily email newsletter.