Trustmark National Bank Trust Department Increases Stake in Abbott Laboratories (NYSE:ABT)

Trustmark National Bank Trust Department lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 10.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,944 shares of the healthcare product maker’s stock after acquiring an additional 1,229 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Abbott Laboratories were worth $1,471,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth about $30,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories in the 4th quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Finally, True Wealth Design LLC grew its holdings in shares of Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after buying an additional 302 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the sale, 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.

Abbott Laboratories Price Performance

ABT stock traded up $0.32 during trading hours on Tuesday, hitting $104.04. 3,260,335 shares of the stock traded hands, compared to its average volume of 5,810,607. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The company has a market cap of $180.99 billion, a P/E ratio of 32.35, a P/E/G ratio of 2.44 and a beta of 0.72. The stock has a 50-day simple moving average of $103.76 and a 200 day simple moving average of $109.42.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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 return on equity of 20.32% and a net margin of 13.65%. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 4.65 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

Analysts Set New Price Targets

ABT has been the subject of several recent analyst reports. Citigroup lowered their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Evercore ISI decreased their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.70.

Abbott Laboratories Company 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.