Adell Harriman & Carpenter Inc. Sells 702 Shares of Abbott Laboratories (NYSE:ABT)

Adell Harriman & Carpenter Inc. cut its position in shares of Abbott Laboratories (NYSE:ABT) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,650 shares of the healthcare product maker’s stock after selling 702 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Abbott Laboratories were worth $2,053,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Naviter Wealth LLC grew its position in Abbott Laboratories by 19.0% during the 4th quarter. Naviter Wealth LLC now owns 16,938 shares of the healthcare product maker’s stock worth $1,864,000 after acquiring an additional 2,708 shares during the last quarter. Choreo LLC grew its position in Abbott Laboratories by 13.4% during the 4th quarter. Choreo LLC now owns 26,181 shares of the healthcare product maker’s stock worth $2,882,000 after acquiring an additional 3,088 shares during the last quarter. Mather Group LLC. grew its position in Abbott Laboratories by 2.2% during the 4th quarter. Mather Group LLC. now owns 35,931 shares of the healthcare product maker’s stock worth $3,955,000 after acquiring an additional 789 shares during the last quarter. Gilbert & Cook Inc. grew its position in Abbott Laboratories by 17.4% during the 4th quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock worth $832,000 after acquiring an additional 1,120 shares during the last quarter. Finally, Capital Investment Counsel Inc bought a new position in Abbott Laboratories during the 4th quarter worth approximately $232,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Down 0.2 %

ABT stock traded down $0.26 on Monday, reaching $107.27. 3,305,056 shares of the company traded hands, compared to its average volume of 5,632,248. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The company has a market cap of $186.13 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. The firm has a fifty day simple moving average of $113.64 and a 200-day simple moving average of $108.22.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share 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 company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same quarter last year, the company earned $1.03 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current 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 issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 68.54%.

Insiders Place Their Bets

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 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 $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 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 $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,935 shares of company stock valued at $1,670,048. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

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

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.