PDS Planning Inc Has $15.56 Million Position in Abbott Laboratories (NYSE:ABT)

PDS Planning Inc decreased its position in Abbott Laboratories (NYSE:ABT) by 0.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 117,322 shares of the healthcare product maker’s stock after selling 94 shares during the period. Abbott Laboratories makes up 1.3% of PDS Planning Inc’s portfolio, making the stock its 18th largest position. PDS Planning Inc’s holdings in Abbott Laboratories were worth $15,563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Abbott Laboratories by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock valued at $19,075,481,000 after purchasing an additional 739,260 shares during the last quarter. Capital International Investors increased its stake in shares of Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after purchasing an additional 2,229,026 shares during the period. Capital Research Global Investors boosted its holdings in Abbott Laboratories by 1.5% in the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock valued at $6,118,903,000 after purchasing an additional 795,073 shares during the period. Geode Capital Management LLC increased its holdings in shares of Abbott Laboratories by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock worth $4,023,027,000 after purchasing an additional 765,636 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Abbott Laboratories by 2.3% in the fourth quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock valued at $2,985,233,000 after buying an additional 581,325 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Insider Activity at Abbott Laboratories

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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Down 0.4%

Shares of NYSE ABT opened at $137.46 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm has a market cap of $239.16 billion, a PE ratio of 17.83, a P/E/G ratio of 2.62 and a beta of 0.73. The company’s fifty day simple moving average is $132.69 and its 200 day simple moving average is $127.30. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Analysts Set New Price Targets

ABT has been the subject of several analyst reports. Morgan Stanley lifted their price objective on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. The Goldman Sachs Group upped their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Raymond James Financial upped their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Six 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.61.

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.