Folger Nolan Fleming Douglas Capital Management Inc. Has $12.79 Million Holdings in Abbott Laboratories (NYSE:ABT)

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in Abbott Laboratories (NYSE:ABT) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,452 shares of the healthcare product maker’s stock after selling 1,115 shares during the quarter. Abbott Laboratories accounts for 1.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 20th largest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Abbott Laboratories were worth $12,794,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $200,000. LaFleur & Godfrey LLC increased its holdings in shares of Abbott Laboratories by 23.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock valued at $9,325,000 after acquiring an additional 15,692 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after acquiring an additional 4,755 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $29,120,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $316,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABT. Wells Fargo & Company boosted their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Jefferies Financial Group upped their price target on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Thursday, April 17th. Citigroup upped their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Bank of America upped their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.59.

Abbott Laboratories Trading Up 0.8%

NYSE ABT opened at $136.33 on Friday. The stock has a market cap of $237.19 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock has a 50 day simple moving average of $131.26 and a two-hundred day simple moving average of $126.25. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. On average, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insider Activity

In other news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

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.