Capital Planning LLC Has $969,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Capital Planning LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 11.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,523 shares of the healthcare product maker’s stock after buying an additional 902 shares during the quarter. Capital Planning LLC’s holdings in Abbott Laboratories were worth $969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. True Wealth Design LLC grew its holdings in shares of Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. grew its holdings in shares of Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after purchasing an additional 236 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s 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 sale, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABT. Raymond James reissued a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Citigroup decreased their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Barclays decreased their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.64.

Abbott Laboratories Stock Performance

NYSE:ABT traded down $0.42 on Monday, hitting $105.30. The company’s stock had a trading volume of 5,084,356 shares, compared to its average volume of 5,709,905. The firm has a market capitalization of $183.18 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The stock has a fifty day moving average of $104.97 and a two-hundred day moving average of $110.16.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. Research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.