First National Advisers LLC Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

First National Advisers LLC raised its stake in Abbott Laboratories (NYSE:ABT – Get Rating) by 43.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,231 shares of the healthcare product maker’s stock after purchasing an additional 2,789 shares during the period. Abbott Laboratories accounts for approximately 1.3% of First National Advisers LLC’s investment portfolio, making the stock its 17th largest holding. First National Advisers LLC’s holdings in Abbott Laboratories were worth $893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. ProShare Advisors LLC grew its stake in shares of Abbott Laboratories by 2.1% during the third quarter. ProShare Advisors LLC now owns 1,716,022 shares of the healthcare product maker’s stock worth $166,043,000 after acquiring an additional 34,651 shares during the last quarter. Cowa LLC grew its stake in shares of Abbott Laboratories by 4.9% during the third quarter. Cowa LLC now owns 4,314 shares of the healthcare product maker’s stock worth $418,000 after acquiring an additional 200 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its stake in shares of Abbott Laboratories by 1.3% during the third quarter. Chevy Chase Trust Holdings LLC now owns 1,119,016 shares of the healthcare product maker’s stock worth $108,276,000 after acquiring an additional 13,841 shares during the last quarter. Commerce Bank grew its stake in shares of Abbott Laboratories by 21.3% during the third quarter. Commerce Bank now owns 962,649 shares of the healthcare product maker’s stock worth $93,146,000 after acquiring an additional 169,310 shares during the last quarter. Finally, XML Financial LLC grew its stake in shares of Abbott Laboratories by 492.6% during the third quarter. XML Financial LLC now owns 37,535 shares of the healthcare product maker’s stock worth $3,632,000 after acquiring an additional 31,201 shares during the last quarter. Hedge funds and other institutional investors own 72.93% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock traded down $1.42 during trading hours on Wednesday, hitting $111.11. 1,434,722 shares of the company’s stock were exchanged, compared to its average volume of 4,936,120. The company has a quick ratio of 1.43, a current ratio of 1.86 and a debt-to-equity ratio of 0.43. The firm has a market cap of $193.73 billion, a P/E ratio of 25.40, a P/E/G ratio of 5.11 and a beta of 0.69. The firm has a 50 day moving average of $108.75 and a two-hundred day moving average of $105.79. Abbott Laboratories has a fifty-two week low of $93.25 and a fifty-two week high of $130.93.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.84%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, January 12th. Abbott Laboratories’s dividend payout ratio is presently 46.05%.

Insider Transactions at Abbott Laboratories

In other news, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $97.46, for a total transaction of $4,873,000.00. Following the completion of the transaction, the director now directly owns 6,873,500 shares of the company’s stock, valued at approximately $669,891,310. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP John F. Ginascol sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $112.32, for a total transaction of $1,235,520.00. Following the completion of the transaction, the executive vice president now directly owns 111,912 shares of the company’s stock, valued at approximately $12,569,955.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $97.46, for a total value of $4,873,000.00. Following the sale, the director now owns 6,873,500 shares of the company’s stock, valued at $669,891,310. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of research reports. Barclays lifted their target price on Abbott Laboratories from $114.00 to $122.00 in a report on Wednesday, January 4th. Wells Fargo & Company decreased their target price on Abbott Laboratories from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, October 10th. Royal Bank of Canada decreased their target price on Abbott Laboratories from $132.00 to $126.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Mizuho lifted their target price on Abbott Laboratories from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, BTIG Research decreased their target price on Abbott Laboratories from $126.00 to $123.00 and set a “buy” rating for the company in a report on Monday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $125.06.

Abbott Laboratories Company Profile

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Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.