First Hawaiian Bank Purchases 7 Shares of Abbott Laboratories (ABT)

First Hawaiian Bank increased its position in shares of Abbott Laboratories (NYSE:ABT) by 0.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,826 shares of the healthcare product maker’s stock after acquiring an additional 7 shares during the period. First Hawaiian Bank’s holdings in Abbott Laboratories were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Atwood & Palmer Inc. raised its holdings in shares of Abbott Laboratories by 157.5% during the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after acquiring an additional 2,000 shares in the last quarter. Independent Portfolio Consultants Inc. raised its holdings in shares of Abbott Laboratories by 9.3% during the first quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock worth $152,000 after acquiring an additional 292 shares in the last quarter. Farmers National Bank raised its holdings in shares of Abbott Laboratories by 1.5% during the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after acquiring an additional 52 shares in the last quarter. Advantage Investment Management LLC raised its holdings in shares of Abbott Laboratories by 17.3% during the first quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock worth $163,000 after acquiring an additional 543 shares in the last quarter. Finally, Delta Asset Management LLC TN raised its holdings in shares of Abbott Laboratories by 1.3% during the first quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 71.50% of the company’s stock.

In other news, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Hubert L. Allen sold 4,600 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the sale, the insider now directly owns 105,479 shares in the company, valued at $5,357,278.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,150 shares of company stock worth $10,811,179. 0.76% of the stock is owned by insiders.

Shares of Abbott Laboratories (ABT) traded up 0.56% during midday trading on Wednesday, hitting $51.70. The stock had a trading volume of 1,829,443 shares. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $52.60. The firm has a market capitalization of $89.83 billion, a PE ratio of 72.41 and a beta of 1.06. The company’s 50 day moving average price is $50.14 and its 200-day moving average price is $47.04.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. Abbott Laboratories’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. Equities analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.06%. Abbott Laboratories’s payout ratio is 149.30%.

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Several analysts recently issued reports on the company. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, June 21st. BidaskClub upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Jefferies Group LLC restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a report on Thursday, June 29th. Morgan Stanley restated an “equal weight” rating on shares of Abbott Laboratories in a report on Monday, July 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $52.50.

About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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