MEMBERS Trust Co bought a new stake in Abbott Laboratories (NYSE:ABT) during the first quarter, Holdings Channel reports. The fund bought 6,073 shares of the healthcare product maker’s stock, valued at approximately $270,000.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Whittier Trust Co. boosted its stake in Abbott Laboratories by 1.7% in the first quarter. Whittier Trust Co. now owns 401,048 shares of the healthcare product maker’s stock valued at $17,807,000 after buying an additional 6,751 shares during the last quarter. Marshwinds Advisory Co. boosted its stake in Abbott Laboratories by 118.2% in the first quarter. Marshwinds Advisory Co. now owns 66,576 shares of the healthcare product maker’s stock valued at $2,957,000 after buying an additional 36,069 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Abbott Laboratories by 7.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 103,815 shares of the healthcare product maker’s stock valued at $4,610,000 after buying an additional 7,309 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in Abbott Laboratories by 3.1% in the first quarter. Miller Howard Investments Inc. NY now owns 1,529,641 shares of the healthcare product maker’s stock valued at $67,931,000 after buying an additional 46,118 shares during the last quarter. Finally, Reik & CO. LLC purchased a new stake in Abbott Laboratories during the first quarter valued at approximately $215,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Shares of Abbott Laboratories (ABT) traded up 1.29% during mid-day trading on Friday, hitting $48.68. 1,100,128 shares of the stock traded hands. The company has a market cap of $84.58 billion, a price-to-earnings ratio of 68.18 and a beta of 1.07. The stock has a 50-day moving average of $49.11 and a 200-day moving average of $45.59. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $51.13.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

ILLEGAL ACTIVITY NOTICE: “MEMBERS Trust Co Takes Position in Abbott Laboratories (ABT)” was published by Watch List News and is the property of of Watch List News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.watchlistnews.com/members-trust-co-takes-position-in-abbott-laboratories-abt/1472131.html.

ABT has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $54.00 target price (up from $47.50) on shares of Abbott Laboratories in a research note on Friday, June 30th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Tuesday, May 16th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Barclays PLC reaffirmed an “overweight” rating and issued a $57.00 target price (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $48.00 target price on shares of Abbott Laboratories in a research note on Tuesday, July 11th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $51.93.

In other Abbott Laboratories news, insider Jared Watkin sold 552 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total value of $26,479.44. Following the completion of the sale, the insider now directly owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian J. Blaser sold 15,000 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the completion of the sale, the insider now directly owns 143,154 shares of the company’s stock, valued at $7,157,700. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,702 shares of company stock valued at $10,149,733. Insiders own 0.76% of the company’s stock.

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.