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

Johnson Investment Counsel Inc. raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,009,560 shares of the healthcare product maker’s stock after acquiring an additional 12,352 shares during the period. Abbott Laboratories makes up 1.1% of Johnson Investment Counsel Inc.’s holdings, making the stock its 20th biggest holding. Johnson Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $114,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Impax Asset Management Group plc boosted its position in shares of Abbott Laboratories by 0.5% during the third quarter. Impax Asset Management Group plc now owns 557,608 shares of the healthcare product maker’s stock worth $63,573,000 after buying an additional 2,754 shares during the period. Summit Global Investments lifted its holdings in Abbott Laboratories by 13.4% during the 3rd quarter. Summit Global Investments now owns 4,103 shares of the healthcare product maker’s stock worth $468,000 after buying an additional 486 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at approximately $1,044,000. United Bank grew its stake in shares of Abbott Laboratories by 1.8% in the third quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock worth $3,111,000 after acquiring an additional 488 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Abbott Laboratories by 11.4% in the third quarter. Assetmark Inc. now owns 132,020 shares of the healthcare product maker’s stock valued at $15,052,000 after acquiring an additional 13,523 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 in the last ninety days. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 1.6 %

ABT opened at $137.23 on Monday. The firm has a market cap of $238.00 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The business’s 50 day moving average is $125.35 and its two-hundred day moving average is $118.82. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Evercore ISI upped their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Barclays reissued an “overweight” rating and issued a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Finally, StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.19.

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.