Pioneer Trust Bank N A OR Grows Stake in Abbott Laboratories (NYSE:ABT)

Pioneer Trust Bank N A OR lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 57,337 shares of the healthcare product maker’s stock after acquiring an additional 2,524 shares during the period. Abbott Laboratories makes up 1.9% of Pioneer Trust Bank N A OR’s investment portfolio, making the stock its 22nd biggest position. Pioneer Trust Bank N A OR’s holdings in Abbott Laboratories were worth $6,311,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in Abbott Laboratories by 14,037.9% during the 4th quarter. International Assets Investment Management LLC now owns 1,349,176 shares of the healthcare product maker’s stock valued at $148,504,000 after buying an additional 1,339,633 shares in the last quarter. Wellington Management Group LLP lifted its position in Abbott Laboratories by 4.3% during the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after purchasing an additional 1,298,219 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Abbott Laboratories by 30.8% during the third quarter. Envestnet Asset Management Inc. now owns 3,627,373 shares of the healthcare product maker’s stock valued at $351,311,000 after purchasing an additional 853,997 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Abbott Laboratories by 28.0% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,664,856 shares of the healthcare product maker’s stock valued at $354,941,000 after acquiring an additional 801,191 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Abbott Laboratories by 47.7% in the third quarter. Canada Pension Plan Investment Board now owns 2,423,715 shares of the healthcare product maker’s stock worth $234,737,000 after purchasing an additional 783,090 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now directly owns 78,704 shares in the company, valued at approximately $9,444,480. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. Insiders sold a total of 36,787 shares of company stock worth $4,098,073 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ABT. Citigroup lifted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada dropped their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Raymond James restated a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Barclays lowered their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.50.

Abbott Laboratories Stock Down 0.3 %

Shares of ABT stock traded down $0.27 during trading hours on Thursday, reaching $104.67. 5,835,684 shares of the company’s stock were exchanged, compared to its average volume of 5,563,603. The stock’s 50 day moving average is $112.00 and its 200-day moving average is $108.85. The company has a market cap of $182.09 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 2.55 and a beta of 0.76. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. Analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.10%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.