Arbor Trust Wealth Advisors LLC Has $5 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Arbor Trust Wealth Advisors LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 1.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 48,096 shares of the healthcare product maker’s stock after selling 480 shares during the period. Abbott Laboratories comprises approximately 2.6% of Arbor Trust Wealth Advisors LLC’s holdings, making the stock its 11th biggest position. Arbor Trust Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $4,998,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Abbott Laboratories by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after purchasing an additional 701,740 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $16,764,000. Principal Securities Inc. acquired a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $2,932,000. Garde Capital Inc. boosted its holdings in Abbott Laboratories by 16.4% in the fourth quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after acquiring an additional 262 shares during the last quarter. Finally, Haverford Trust Co increased its position in Abbott Laboratories by 0.7% during the 4th quarter. Haverford Trust Co now owns 93,879 shares of the healthcare product maker’s stock valued at $10,333,000 after purchasing an additional 664 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $114.40 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $107.51 and its 200 day simple moving average is $108.76. The stock has a market cap of $199.01 billion, a P/E ratio of 35.64, a price-to-earnings-growth ratio of 2.82 and a beta of 0.72. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of analyst reports. Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Finally, Evercore ISI reduced their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

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.