Telemus Capital LLC Increases Stake in Abbott Laboratories (NYSE:ABT)

Telemus Capital LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 67,144 shares of the healthcare product maker’s stock after purchasing an additional 1,222 shares during the quarter. Telemus Capital LLC’s holdings in Abbott Laboratories were worth $7,390,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Rappaport Reiches Capital Management LLC grew its position in Abbott Laboratories by 0.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after purchasing an additional 94 shares during the last quarter. Avion Wealth boosted its holdings in shares of Abbott Laboratories by 19.4% during the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after acquiring an additional 96 shares during the last quarter. Renaissance Investment Group LLC boosted its holdings in shares of Abbott Laboratories by 0.7% during the 4th quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock valued at $1,563,000 after acquiring an additional 100 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in shares of Abbott Laboratories by 1.5% during the 4th quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock valued at $739,000 after acquiring an additional 100 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its holdings in shares of Abbott Laboratories by 0.7% during the 4th quarter. Tectonic Advisors LLC now owns 15,160 shares of the healthcare product maker’s stock valued at $1,669,000 after acquiring an additional 102 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James increased their price objective on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Citigroup increased their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada decreased their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Trading Down 0.2 %

Abbott Laboratories stock opened at $107.07 on Tuesday. The stock has a market cap of $185.79 billion, a P/E ratio of 33.36, a PEG ratio of 2.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm’s 50 day moving average price is $114.08 and its 200-day moving average price is $107.90.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. Abbott Laboratories’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. On average, equities analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.05%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insiders Place Their Bets

In other news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the sale, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,435 shares of company stock worth $6,451,298. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Company 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.