Carnegie Investment Counsel Has $38.46 Million Holdings in Abbott Laboratories (NYSE:ABT)

Carnegie Investment Counsel lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 52.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 301,562 shares of the healthcare product maker’s stock after buying an additional 104,013 shares during the quarter. Abbott Laboratories comprises about 0.9% of Carnegie Investment Counsel’s holdings, making the stock its 22nd largest position. Carnegie Investment Counsel’s holdings in Abbott Laboratories were worth $38,460,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Machina Capital S.A.S. acquired a new stake in shares of Abbott Laboratories during the first quarter worth $670,000. Pinnacle Associates Ltd. boosted its stake in Abbott Laboratories by 7.5% during the first quarter. Pinnacle Associates Ltd. now owns 112,848 shares of the healthcare product maker’s stock worth $14,969,000 after acquiring an additional 7,901 shares in the last quarter. Opes Wealth Management LLC lifted its stake in shares of Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after buying an additional 80 shares in the last quarter. Guardian Wealth Management Inc. lifted its stake in shares of Abbott Laboratories by 3.3% in the first quarter. Guardian Wealth Management Inc. now owns 27,786 shares of the healthcare product maker’s stock valued at $3,686,000 after buying an additional 885 shares in the last quarter. Finally, Dempze Nancy E lifted its stake in shares of Abbott Laboratories by 2.4% in the first quarter. Dempze Nancy E now owns 42,662 shares of the healthcare product maker’s stock valued at $5,659,000 after buying an additional 985 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Evercore ISI increased their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. BTIG Research lowered their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a report on Friday, July 18th. Finally, Royal Bank Of Canada raised their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.47.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director owned 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $125.80 on Thursday. Abbott Laboratories has a 12 month low of $99.92 and a 12 month high of $141.23. The stock has a market cap of $218.87 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.38 and a beta of 0.73. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average price is $132.71 and its 200-day moving average price is $129.70.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. Abbott Laboratories’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. On average, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

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.