Fulton Bank N.A. Boosts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Fulton Bank N.A. lifted its position in Abbott Laboratories (NYSE:ABT) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,761 shares of the healthcare product maker’s stock after acquiring an additional 1,907 shares during the period. Fulton Bank N.A.’s holdings in Abbott Laboratories were worth $3,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Range Financial Group LLC purchased a new position in Abbott Laboratories during the fourth quarter worth approximately $582,000. One Wealth Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $860,000. Bath Savings Trust Co increased its position in Abbott Laboratories by 3.7% during the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after purchasing an additional 5,881 shares during the last quarter. Spartan Planning & Wealth Management purchased a new position in Abbott Laboratories during the fourth quarter worth about $378,000. Finally, Regent Peak Wealth Advisors LLC boosted its holdings in Abbott Laboratories by 2.0% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,873 shares of the healthcare product maker’s stock valued at $551,000 after purchasing an additional 97 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Raymond James reissued a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Mizuho increased their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. UBS Group boosted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Evercore ISI increased their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Stock Up 0.1 %

NYSE ABT traded up $0.11 during trading hours on Wednesday, hitting $113.51. 1,389,929 shares of the company were exchanged, compared to its average volume of 4,132,008. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $196.88 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.69 and a beta of 0.73. The company has a 50 day moving average of $115.44 and a two-hundred day moving average of $112.37. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 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.