Abbott Laboratories (NYSE:ABT) Shares Sold by First Hawaiian Bank

First Hawaiian Bank trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 1.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,921 shares of the healthcare product maker’s stock after selling 220 shares during the period. First Hawaiian Bank’s holdings in Abbott Laboratories were worth $1,801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lantz Financial LLC lifted its position in shares of Abbott Laboratories by 5.2% in the second quarter. Lantz Financial LLC now owns 5,737 shares of the healthcare product maker’s stock valued at $596,000 after acquiring an additional 281 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Abbott Laboratories in the 2nd quarter valued at about $116,000. Prudential PLC boosted its stake in shares of Abbott Laboratories by 11.8% during the 2nd quarter. Prudential PLC now owns 26,844 shares of the healthcare product maker’s stock worth $2,789,000 after purchasing an additional 2,830 shares during the last quarter. LGT Group Foundation raised its position in shares of Abbott Laboratories by 54.5% in the second quarter. LGT Group Foundation now owns 5,916 shares of the healthcare product maker’s stock valued at $615,000 after buying an additional 2,088 shares during the last quarter. Finally, Andra AP fonden lifted its stake in shares of Abbott Laboratories by 15.2% during the second quarter. Andra AP fonden now owns 86,508 shares of the healthcare product maker’s stock valued at $8,989,000 after buying an additional 11,400 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the subject of several analyst reports. Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Trading Up 0.7 %

NYSE:ABT opened at $114.18 on Thursday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The business’s 50-day moving average is $115.43 and its two-hundred day moving average is $112.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market capitalization of $198.04 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. Research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $0.59 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

Abbott Laboratories Profile

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.