Mogy Joel R Investment Counsel Inc. Sells 5,575 Shares of Abbott Laboratories (NYSE:ABT)

Mogy Joel R Investment Counsel Inc. lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,951 shares of the healthcare product maker’s stock after selling 5,575 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $6,379,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in Abbott Laboratories by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after purchasing an additional 1,298,219 shares during the last quarter. Northern Trust Corp raised its position in Abbott Laboratories by 1.5% in the 3rd quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock valued at $2,229,122,000 after purchasing an additional 343,559 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Abbott Laboratories by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,153,877 shares of the healthcare product maker’s stock valued at $1,164,611,000 after purchasing an additional 32,157 shares during the last quarter. Flossbach Von Storch AG raised its position in Abbott Laboratories by 1.5% in the 4th quarter. Flossbach Von Storch AG now owns 9,149,611 shares of the healthcare product maker’s stock valued at $1,007,098,000 after purchasing an additional 135,821 shares during the last quarter. Finally, Invesco Ltd. raised its position in Abbott Laboratories by 0.4% in the 3rd quarter. Invesco Ltd. now owns 5,949,700 shares of the healthcare product maker’s stock valued at $576,228,000 after purchasing an additional 20,851 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.6 %

Shares of Abbott Laboratories stock traded up $0.67 during trading on Friday, reaching $107.53. 3,575,566 shares of the company were exchanged, compared to its average volume of 5,219,304. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The business has a 50-day moving average price of $113.64 and a 200-day moving average price of $108.03. The firm has a market capitalization of $186.58 billion, a price-to-earnings ratio of 33.50, a P/E/G ratio of 2.57 and a beta of 0.74.

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

Abbott Laboratories Dividend Announcement

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

Wall Street Analysts Forecast Growth

ABT has been the subject of several research analyst reports. Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Barclays dropped their target price 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. Citigroup boosted their target price on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada dropped their target price 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. Finally, Raymond James restated a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,435 shares of company stock valued at $6,451,298. Company insiders own 1.10% of the company’s stock.

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.