Carnegie Investment Counsel lifted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 52.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 301,562 shares of the healthcare product maker's stock after buying an additional 104,013 shares during the period. Abbott Laboratories makes up approximately 0.9% of Carnegie Investment Counsel's holdings, making the stock its 22nd largest position. Carnegie Investment Counsel's holdings in Abbott Laboratories were worth $38,460,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock worth $5,850,000 after purchasing an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after buying an additional 2,774 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Abbott Laboratories by 6.2% during the 4th quarter. American Century Companies Inc. now owns 652,656 shares of the healthcare product maker's stock valued at $73,822,000 after acquiring an additional 38,231 shares during the period. EntryPoint Capital LLC increased its stake in Abbott Laboratories by 66.4% in the 4th quarter. EntryPoint Capital LLC now owns 3,522 shares of the healthcare product maker's stock valued at $398,000 after purchasing an additional 1,406 shares in the last quarter. Finally, Ashton Thomas Securities LLC grew its position in shares of Abbott Laboratories by 26.5% in the fourth quarter. Ashton Thomas Securities LLC now owns 3,475 shares of the healthcare product maker's stock valued at $394,000 after purchasing an additional 729 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.
Insider Buying and Selling
In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director directly owned 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research firms have commented on ABT. Raymond James Financial lowered their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Barclays boosted their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Piper Sandler reissued an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.47.
Read Our Latest Research Report on ABT
Abbott Laboratories Price Performance
Shares of NYSE:ABT traded up $0.89 during midday trading on Friday, reaching $126.53. The company's stock had a trading volume of 4,741,228 shares, compared to its average volume of 7,571,204. The business's fifty day simple moving average is $132.39 and its 200-day simple moving average is $129.88. The company has a market capitalization of $220.15 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.38 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. Abbott Laboratories has a fifty-two week low of $99.92 and a fifty-two week high of $141.23.
Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the business earned $1.14 earnings per share. Abbott Laboratories's quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.
Abbott Laboratories Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.87%. Abbott Laboratories's payout ratio is 29.57%.
Abbott Laboratories Company Profile
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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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