Harbour Investment Management LLC Purchases 702 Shares of Abbott Laboratories (NYSE:ABT)

Harbour Investment Management LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,375 shares of the healthcare product maker’s stock after acquiring an additional 702 shares during the quarter. Abbott Laboratories makes up approximately 1.4% of Harbour Investment Management LLC’s holdings, making the stock its 17th biggest holding. Harbour Investment Management LLC’s holdings in Abbott Laboratories were worth $3,209,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Cape Investment Advisory Inc. lifted its holdings in shares of Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 76 shares in the last quarter. Jacobson & Schmitt Advisors LLC lifted its holdings in shares of Abbott Laboratories by 2.9% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after purchasing an additional 80 shares in the last quarter. LMG Wealth Partners LLC lifted its stake in Abbott Laboratories by 3.8% during the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after acquiring an additional 80 shares in the last quarter. Glass Wealth Management Co LLC lifted its stake in Abbott Laboratories by 3.2% during the 4th quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock valued at $299,000 after acquiring an additional 81 shares in the last quarter. Finally, Austin Wealth Management LLC lifted its stake in Abbott Laboratories by 4.0% during the 4th quarter. Austin Wealth Management LLC now owns 2,134 shares of the healthcare product maker’s stock valued at $242,000 after acquiring an additional 83 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ABT shares. Evercore ISI raised their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Barclays restated an “overweight” rating and set a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. UBS Group raised their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Bank of America raised their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the sale, the executive vice president now owns 74,381 shares in the company, valued at approximately $10,277,222.77. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock valued at $15,463,316 in the last quarter. 0.47% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Down 2.2 %

Shares of ABT opened at $127.02 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a market cap of $220.29 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The business has a 50-day moving average of $127.16 and a 200 day moving average of $119.38.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. As a group, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 yield of 1.86%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is presently 30.85%.

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.