Princeton Capital Management LLC Has $3.64 Million Position in Abbott Laboratories (NYSE:ABT)

Princeton Capital Management LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 95.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,390 shares of the healthcare product maker’s stock after buying an additional 14,847 shares during the period. Abbott Laboratories comprises about 1.2% of Princeton Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Princeton Capital Management LLC’s holdings in Abbott Laboratories were worth $3,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ABT. BlackRock Inc. raised its holdings in shares of Abbott Laboratories by 0.5% during the 1st quarter. BlackRock Inc. now owns 134,074,306 shares of the healthcare product maker’s stock valued at $16,067,466,000 after purchasing an additional 647,496 shares in the last quarter. Morgan Stanley raised its holdings in shares of Abbott Laboratories by 5.2% during the 4th quarter. Morgan Stanley now owns 26,687,412 shares of the healthcare product maker’s stock valued at $2,922,006,000 after purchasing an additional 1,316,343 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Abbott Laboratories by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 21,322,955 shares of the healthcare product maker’s stock valued at $2,334,649,000 after purchasing an additional 572,841 shares in the last quarter. Polen Capital Management LLC raised its holdings in Abbott Laboratories by 1.1% in the 1st quarter. Polen Capital Management LLC now owns 20,712,324 shares of the healthcare product maker’s stock worth $2,482,165,000 after acquiring an additional 220,118 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Abbott Laboratories by 1.2% in the 4th quarter. Wells Fargo & Company MN now owns 20,057,853 shares of the healthcare product maker’s stock worth $2,196,135,000 after acquiring an additional 229,413 shares during the period. 73.03% of the stock is owned by institutional investors.

Several research analysts recently commented on ABT shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell dropped their target price on shares of Abbott Laboratories from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, June 2nd. William Blair reiterated an “outperform” rating on shares of Abbott Laboratories in a report on Tuesday, April 20th. Credit Suisse Group decreased their price target on shares of Abbott Laboratories from $133.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 2nd. Atlantic Securities started coverage on shares of Abbott Laboratories in a research report on Thursday, April 15th. They issued a “neutral” rating and a $122.00 price target on the stock. Finally, Barclays decreased their price target on shares of Abbott Laboratories from $150.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $122.00.

In other Abbott Laboratories news, SVP Jared Watkin sold 94,576 shares of the company’s stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $119.90, for a total value of $11,339,662.40. Following the completion of the sale, the senior vice president now owns 59,783 shares of the company’s stock, valued at $7,167,981.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Shares of NYSE ABT traded down $0.41 during trading on Friday, reaching $109.74. The company had a trading volume of 231,796 shares, compared to its average volume of 5,708,611. Abbott Laboratories has a 52 week low of $86.16 and a 52 week high of $128.54. The stock has a market cap of $194.99 billion, a PE ratio of 34.53, a PEG ratio of 1.92 and a beta of 0.69. The company has a current ratio of 1.75, a quick ratio of 1.32 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $117.83.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.05. The business had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.72 billion. Abbott Laboratories had a net margin of 15.33% and a return on equity of 24.02%. Abbott Laboratories’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, equities analysts expect that Abbott Laboratories will post 4.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 16th. Investors of record on Thursday, July 15th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.64%. Abbott Laboratories’s dividend payout ratio (DPR) is 49.32%.

Abbott Laboratories Company Profile

Abbott Laboratories 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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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