Summit Asset Management LLC Has $431,000 Holdings in Abbott Laboratories (NYSE:ABT)

Summit Asset Management LLC grew its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 6.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,919 shares of the healthcare product maker’s stock after acquiring an additional 252 shares during the quarter. Summit Asset Management LLC’s holdings in Abbott Laboratories were worth $431,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ABT. Zevenbergen Capital Investments LLC grew its position in shares of Abbott Laboratories by 0.6% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock valued at $2,074,000 after purchasing an additional 130 shares during the period. Perigon Wealth Management LLC increased its position in shares of Abbott Laboratories by 5.2% during the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after acquiring an additional 2,317 shares in the last quarter. Rockland Trust Co. raised its holdings in shares of Abbott Laboratories by 1.5% during the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock worth $8,897,000 after acquiring an additional 1,343 shares during the period. VisionPoint Advisory Group LLC increased its holdings in Abbott Laboratories by 7.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after purchasing an additional 215 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Abbott Laboratories by 634.6% in the 3rd quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock valued at $2,882,000 after purchasing an additional 25,707 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on 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 directly owns 18,760 shares in the company, valued at $2,223,060. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock worth $1,670,048 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

Get Our Latest Report on Abbott Laboratories

Abbott Laboratories Stock Performance

ABT traded down $0.57 on Thursday, reaching $105.72. The company had a trading volume of 1,520,686 shares, compared to its average volume of 5,558,880. The company’s fifty day moving average is $113.06 and its 200 day moving average is $108.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The stock has a market cap of $183.44 billion, a P/E ratio of 32.80, a P/E/G ratio of 2.55 and a beta of 0.76. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio is 68.54%.

About Abbott Laboratories

(Free Report)

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.

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

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