Telemus Capital LLC Purchases 1,222 Shares of Abbott Laboratories (NYSE:ABT)

Telemus Capital LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,144 shares of the healthcare product maker’s stock after buying an additional 1,222 shares during the quarter. Telemus Capital LLC’s holdings in Abbott Laboratories were worth $7,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zevenbergen Capital Investments LLC lifted its holdings in shares of Abbott Laboratories by 0.6% during the third quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock worth $2,074,000 after purchasing an additional 130 shares during the period. Perigon Wealth Management LLC raised its holdings in shares of Abbott Laboratories by 5.2% in the 4th 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 during the last quarter. Rockland Trust Co. raised its holdings in shares of Abbott Laboratories by 1.5% in the 3rd 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 last quarter. VisionPoint Advisory Group LLC raised its holdings in shares of Abbott Laboratories by 7.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after acquiring an additional 215 shares during the last quarter. Finally, Gradient Investments LLC raised its holdings in shares of Abbott Laboratories by 4.7% in the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after acquiring an additional 11,508 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories 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 approximately $2,223,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’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 $114,115.50. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was 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 approximately $2,223,060. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,435 shares of company stock worth $6,451,298. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $107.07 on Tuesday. The stock has a market cap of $185.79 billion, a PE ratio of 33.36, a PEG ratio of 2.58 and a beta of 0.74. The company’s fifty day moving average is $114.08 and its 200 day moving average is $107.90. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on ABT shares. Barclays reduced 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 report on Monday. Raymond James raised their price target on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Citigroup raised their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada cut their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.80.

About Abbott Laboratories

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.