Folger Nolan Fleming Douglas Capital Management Inc. Has $10.70 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its position in Abbott Laboratories (NYSE:ABT) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,205 shares of the healthcare product maker’s stock after selling 851 shares during the quarter. Abbott Laboratories accounts for 1.2% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 22nd biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Abbott Laboratories were worth $10,699,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. lifted its position in shares of Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after acquiring an additional 236 shares during the period. Rise Advisors LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $37,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Abbott Laboratories during the 3rd quarter valued at $40,000. Cornerstone Planning Group LLC lifted its position in shares of Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after acquiring an additional 201 shares during the period. Finally, Bfsg LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $51,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Raymond James reiterated a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday. Barclays dropped 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. Royal Bank of Canada dropped their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Citigroup increased their target price on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $121.50.

Abbott Laboratories Trading Up 0.6 %

Shares of ABT stock traded up $0.67 on Friday, hitting $107.53. The company had a trading volume of 3,575,566 shares, compared to its average volume of 5,219,304. The firm has a market cap of $186.58 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.57 and a beta of 0.74. The stock’s 50-day moving average is $113.64 and its two-hundred day moving average is $108.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. On average, equities research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.05%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Buying and Selling

In related news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the transaction, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock valued at $6,451,298 over the last 90 days. Company insiders own 1.10% of the company’s stock.

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.