Adell Harriman & Carpenter Inc. Has $1.15 Million Holdings in Abbott Laboratories (NYSE:ABT)

Adell Harriman & Carpenter Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 140.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,862 shares of the healthcare product maker’s stock after purchasing an additional 9,262 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Abbott Laboratories were worth $1,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Tuttle Tactical Management raised its holdings in shares of Abbott Laboratories by 1.5% in the fourth quarter. Tuttle Tactical Management now owns 10,353 shares of the healthcare product maker’s stock valued at $749,000 after purchasing an additional 153 shares during the last quarter. NewSquare Capital LLC increased its holdings in Abbott Laboratories by 14.2% during the fourth quarter. NewSquare Capital LLC now owns 1,290 shares of the healthcare product maker’s stock worth $93,000 after buying an additional 160 shares during the last quarter. Nicolet Bankshares Inc. increased its holdings in Abbott Laboratories by 0.7% during the fourth quarter. Nicolet Bankshares Inc. now owns 25,247 shares of the healthcare product maker’s stock worth $1,826,000 after buying an additional 165 shares during the last quarter. Jolley Asset Management LLC increased its holdings in Abbott Laboratories by 0.5% during the fourth quarter. Jolley Asset Management LLC now owns 32,721 shares of the healthcare product maker’s stock worth $2,367,000 after buying an additional 166 shares during the last quarter. Finally, Lourd Capital LLC increased its holdings in Abbott Laboratories by 1.8% during the fourth quarter. Lourd Capital LLC now owns 10,407 shares of the healthcare product maker’s stock worth $753,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 75.16% of the company’s stock.

In related news, insider Sharon J. Bracken sold 5,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $77.83, for a total value of $428,065.00. Following the completion of the sale, the insider now directly owns 50,019 shares of the company’s stock, valued at approximately $3,892,978.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jaime Contreras sold 177,457 shares of the firm’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total value of $12,421,990.00. Following the sale, the insider now directly owns 100,985 shares of the company’s stock, valued at $7,068,950. The disclosure for this sale can be found here. Over the last quarter, insiders sold 280,021 shares of company stock worth $20,485,856. 0.70% of the stock is owned by company insiders.

A number of equities analysts have commented on ABT shares. Credit Suisse Group started coverage on shares of Abbott Laboratories in a research report on Monday, December 17th. They set an “outperform” rating and a $82.00 price objective for the company. Citigroup cut shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and reduced their target price for the company from $72.00 to $68.00 in a research report on Wednesday, January 2nd. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, January 2nd. Gabelli reissued a “buy” rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. Finally, BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, January 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $80.48.

Shares of Abbott Laboratories stock traded down $0.51 on Monday, reaching $77.50. 5,613,832 shares of the company’s stock were exchanged, compared to its average volume of 6,080,304. The stock has a market capitalization of $137.90 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.09 and a beta of 1.13. Abbott Laboratories has a 52 week low of $56.81 and a 52 week high of $80.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.20 and a current ratio of 1.62.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the prior year, the business earned $0.74 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Abbott Laboratories will post 3.2 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

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About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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