Howe & Rusling Inc. Has $582,000 Stake in Abbott Laboratories (NYSE:ABT)

Howe & Rusling Inc. raised its holdings in Abbott Laboratories (NYSE:ABT) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,149 shares of the healthcare product maker’s stock after buying an additional 174 shares during the period. Howe & Rusling Inc.’s holdings in Abbott Laboratories were worth $582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. raised its holdings in Abbott Laboratories by 6.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 76 shares in the last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Abbott Laboratories by 9.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after purchasing an additional 79 shares in the last quarter. LMG Wealth Partners LLC boosted its holdings in shares of Abbott Laboratories by 3.8% in the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after buying an additional 80 shares during the last quarter. Jacobson & Schmitt Advisors LLC increased its holdings in Abbott Laboratories by 2.9% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after buying an additional 80 shares during the last quarter. Finally, Glass Wealth Management Co LLC raised its position in Abbott Laboratories by 3.2% during the fourth quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock worth $299,000 after acquiring an additional 81 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $131.67 on Friday. The stock’s fifty day moving average price is $129.71 and its two-hundred day moving average price is $120.24. The firm has a market cap of $228.35 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the prior year, the business posted $1.19 earnings per share. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.79%. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent analyst reports. Evercore ISI boosted their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company upped their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Bank of America lifted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Royal Bank of Canada restated an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Finally, StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Four equities research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.94.

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.