Johnson Investment Counsel Inc. Boosts Holdings in Abbott Laboratories (NYSE:ABT)

Johnson Investment Counsel Inc. boosted its holdings in shares of Abbott Laboratories (NYSE:ABTFree Report) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 976,715 shares of the healthcare product maker’s stock after buying an additional 4,298 shares during the period. Abbott Laboratories comprises about 1.3% of Johnson Investment Counsel Inc.’s portfolio, making the stock its 16th biggest holding. Johnson Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $107,507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Signature Resources Capital Management LLC purchased a new position in Abbott Laboratories during the 4th quarter valued at approximately $29,000. Rise Advisors LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $37,000. Stuart Chaussee & Associates Inc. increased its position in Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Abbott Laboratories during the third quarter valued at $40,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after buying an additional 201 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories stock in a transaction on 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 in the company, valued at approximately $14,895,094.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders sold 36,787 shares of company stock valued at $4,098,073 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.1 %

ABT traded up $0.07 during trading on Friday, hitting $104.74. 7,349,729 shares of the stock were exchanged, compared to its average volume of 5,429,147. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm has a market cap of $182.21 billion, a price-to-earnings ratio of 32.63, a P/E/G ratio of 2.52 and a beta of 0.76. The firm has a 50 day simple moving average of $111.14 and a 200 day simple moving average of $108.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Ratings Changes

ABT has been the topic of several recent research reports. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Raymond James reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Citigroup increased their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada cut their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Finally, Barclays dropped their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

Get Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Company Profile

(Free Report)

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.

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

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