Everett Harris & Co. CA Has $174.01 Million Position in Abbott Laboratories (NYSE:ABT)

Everett Harris & Co. CA reduced its stake in Abbott Laboratories (NYSE:ABT) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,530,964 shares of the healthcare product maker’s stock after selling 14,392 shares during the quarter. Abbott Laboratories comprises 2.3% of Everett Harris & Co. CA’s holdings, making the stock its 9th largest position. Everett Harris & Co. CA owned 0.09% of Abbott Laboratories worth $174,009,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ABT. Veracity Capital LLC grew its stake in shares of Abbott Laboratories by 10.5% in the first quarter. Veracity Capital LLC now owns 4,801 shares of the healthcare product maker’s stock valued at $546,000 after acquiring an additional 458 shares in the last quarter. American National Bank & Trust Co. VA bought a new position in shares of Abbott Laboratories during the first quarter worth approximately $5,277,000. Oak Harvest Investment Services raised its position in shares of Abbott Laboratories by 32.7% in the first quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock valued at $8,371,000 after buying an additional 18,131 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of Abbott Laboratories by 6.4% in the first quarter. First Trust Direct Indexing L.P. now owns 47,294 shares of the healthcare product maker’s stock valued at $5,375,000 after buying an additional 2,838 shares during the period. Finally, Cornerstone Wealth Management LLC grew its position in Abbott Laboratories by 2.2% during the first quarter. Cornerstone Wealth Management LLC now owns 11,923 shares of the healthcare product maker’s stock worth $1,355,000 after buying an additional 253 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Barclays reduced their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Citigroup lowered their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.18.

Abbott Laboratories Price Performance

ABT stock traded down $0.87 during midday trading on Thursday, reaching $102.33. 2,017,846 shares of the stock were exchanged, compared to its average volume of 5,739,068. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a fifty day moving average price of $104.54 and a 200 day moving average price of $110.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $178.02 billion, a PE ratio of 31.88, a P/E/G ratio of 2.48 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping 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 company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts expect that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.15%. Abbott Laboratories’s dividend payout ratio is 68.54%.

About Abbott Laboratories

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.