Folger Nolan Fleming Douglas Capital Management Inc. Has $11.04 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in Abbott Laboratories (NYSE:ABT) by 3.8% in the fourth quarter, Holdings Channel reports. The firm owned 97,567 shares of the healthcare product maker’s stock after selling 3,851 shares during the quarter. Abbott Laboratories accounts for about 1.2% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Abbott Laboratories were worth $11,036,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Groupama Asset Managment lifted its holdings in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the third quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $32,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth $32,000. Finally, Valued Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.4 %

ABT stock opened at $113.45 on Friday. The stock’s 50 day moving average is $115.00 and its 200-day moving average is $112.66. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The firm has a market capitalization of $196.78 billion, a PE ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. 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 posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 2.08%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent research reports. Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Morgan Stanley boosted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Mizuho upped their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.57.

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.