Clifford Swan Investment Counsel LLC Lowers Position in Abbott Laboratories (NYSE:ABT)

Clifford Swan Investment Counsel LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 231,651 shares of the healthcare product maker’s stock after selling 799 shares during the period. Abbott Laboratories comprises about 1.0% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 26th largest position. Clifford Swan Investment Counsel LLC’s holdings in Abbott Laboratories were worth $25,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ABT. International Assets Investment Management LLC grew its position in Abbott Laboratories by 14,037.9% in the 4th quarter. International Assets Investment Management LLC now owns 1,349,176 shares of the healthcare product maker’s stock worth $148,504,000 after purchasing an additional 1,339,633 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Abbott Laboratories by 4.3% in the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after acquiring an additional 1,298,219 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Abbott Laboratories by 30.8% during the third quarter. Envestnet Asset Management Inc. now owns 3,627,373 shares of the healthcare product maker’s stock valued at $351,311,000 after acquiring an additional 853,997 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Abbott Laboratories by 28.0% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,664,856 shares of the healthcare product maker’s stock worth $354,941,000 after acquiring an additional 801,191 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Abbott Laboratories by 47.7% in the third quarter. Canada Pension Plan Investment Board now owns 2,423,715 shares of the healthcare product maker’s stock worth $234,737,000 after purchasing an additional 783,090 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ABT shares. Evercore ISI increased their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Citigroup raised their target price on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Barclays dropped their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Raymond James reissued a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, Royal Bank of Canada cut their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.50.

Insider Transactions at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares in the company, valued at approximately $9,444,480. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,935 shares of company stock valued at $1,670,048. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock traded down $0.02 on Friday, reaching $105.90. The company’s stock had a trading volume of 3,610,492 shares, compared to its average volume of 5,320,693. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The stock’s 50 day simple moving average is $112.52 and its 200-day simple moving average is $108.71. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $183.76 billion, a P/E ratio of 32.99, a PEG ratio of 2.55 and a beta of 0.76.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) 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 the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.03 EPS. As a group, equities analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

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.