Webster Bank N. A. Has $1.40 Million Holdings in Abbott Laboratories (NYSE:ABT)

Webster Bank N. A. grew its position in shares of Abbott Laboratories (NYSE:ABT) by 12.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,344 shares of the healthcare product maker’s stock after purchasing an additional 1,351 shares during the quarter. Webster Bank N. A.’s holdings in Abbott Laboratories were worth $1,403,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after acquiring an additional 701,740 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Abbott Laboratories by 9.5% during the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after buying an additional 7,527,778 shares during the last quarter. Capital International Investors raised its stake in shares of Abbott Laboratories by 2.3% during the 4th quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after purchasing an additional 1,457,847 shares during the period. Wellington Management Group LLP raised its stake in shares of Abbott Laboratories by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after purchasing an additional 1,027,390 shares during the period. Finally, Norges Bank bought a new position in Abbott Laboratories in the 4th quarter worth about $2,115,836,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.7 %

ABT stock traded down $0.74 during midday trading on Friday, reaching $103.91. 8,283,577 shares of the company traded hands, compared to its average volume of 5,748,477. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The business has a 50 day moving average of $104.79 and a 200-day moving average of $110.08. The firm has a market capitalization of $180.76 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.12%. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ABT shares. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Citigroup decreased their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Evercore ISI raised their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Barclays reduced their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.64.

Insider Transactions at Abbott Laboratories

In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

About Abbott Laboratories

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.