Everett Harris & Co. CA Has $170.10 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Everett Harris & Co. CA grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,545,356 shares of the healthcare product maker’s stock after purchasing an additional 2,172 shares during the period. Abbott Laboratories comprises about 2.4% of Everett Harris & Co. CA’s holdings, making the stock its 8th biggest holding. Everett Harris & Co. CA owned 0.09% of Abbott Laboratories worth $170,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new stake in Abbott Laboratories during the 1st quarter valued at $131,000. United Bank raised its position in Abbott Laboratories by 7.2% during the first quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock valued at $3,229,000 after buying an additional 1,826 shares during the period. Mackenzie Financial Corp lifted its stake in Abbott Laboratories by 1.9% in the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock worth $96,257,000 after acquiring an additional 15,521 shares in the last quarter. Kinneret Advisory LLC boosted its position in Abbott Laboratories by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock worth $2,304,000 after acquiring an additional 436 shares during the period. Finally, Lumature Wealth Partners LLC grew its stake in Abbott Laboratories by 636.2% during the 1st quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock valued at $262,000 after acquiring an additional 1,915 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT stock traded up $1.97 during mid-day trading on Wednesday, reaching $113.47. 7,532,730 shares of the stock traded hands, compared to its average volume of 5,754,951. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average of $115.14 and a two-hundred day moving average of $106.37. The firm has a market capitalization of $196.89 billion, a PE ratio of 34.84, a P/E/G ratio of 2.65 and a beta of 0.75. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.19 billion. During the same period in the previous year, the business posted $1.03 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 1.94%. Abbott Laboratories’s payout ratio is 67.48%.

Insider Activity at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,435 shares of company stock worth $6,451,298. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ABT shares. Barclays raised their price target on shares of Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Raymond James increased their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada restated an “outperform” rating and issued a $128.00 target price on shares of Abbott Laboratories in a research note on Wednesday, February 14th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Finally, Citigroup boosted their price target on Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Abbott Laboratories 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.