Carson Advisory Inc. Purchases 115 Shares of Abbott Laboratories (NYSE:ABT)

Carson Advisory Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABTFree Report) by 4.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,778 shares of the healthcare product maker’s stock after acquiring an additional 115 shares during the period. Carson Advisory Inc.’s holdings in Abbott Laboratories were worth $316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $2,115,836,000. Capital Research Global Investors raised its position in Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after purchasing an additional 7,527,778 shares during the period. Boston Partners boosted its holdings in Abbott Laboratories by 12,577.8% during the 4th quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker’s stock valued at $415,948,000 after acquiring an additional 3,742,912 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Abbott Laboratories by 41.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 5,009,838 shares of the healthcare product maker’s stock worth $551,434,000 after acquiring an additional 1,477,671 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of Abbott Laboratories by 2.3% in the 4th quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after buying an additional 1,457,847 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Abbott Laboratories

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

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded up $1.37 during trading hours on Wednesday, hitting $103.01. The stock had a trading volume of 6,598,893 shares, compared to its average volume of 5,664,036. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $104.12 and a two-hundred day moving average of $109.80. The company has a market cap of $179.20 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.46 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its 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. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.14%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analysts Set New Price Targets

Several brokerages recently commented on ABT. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. 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 note on Monday, April 22nd. Citigroup lowered their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Finally, Evercore ISI cut their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.18.

Check Out Our Latest Analysis 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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