DAGCO Inc. Has $1.13 Million Stake in Abbott Laboratories (NYSE:ABT)

DAGCO Inc. decreased its position in Abbott Laboratories (NYSE:ABT) by 4.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 9,445 shares of the healthcare product maker’s stock after selling 425 shares during the period. DAGCO Inc.’s holdings in Abbott Laboratories were worth $1,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV increased its stake in Abbott Laboratories by 6.1% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,411 shares of the healthcare product maker’s stock worth $169,000 after acquiring an additional 81 shares during the last quarter. Cribstone Capital Management LLC increased its position in Abbott Laboratories by 1.2% during the 4th quarter. Cribstone Capital Management LLC now owns 6,796 shares of the healthcare product maker’s stock valued at $744,000 after buying an additional 83 shares in the last quarter. Axiom Financial Strategies LLC increased its holdings in shares of Abbott Laboratories by 4.4% in the fourth quarter. Axiom Financial Strategies LLC now owns 2,027 shares of the healthcare product maker’s stock valued at $222,000 after purchasing an additional 86 shares during the period. Ocean Capital Management LLC increased its holdings in shares of Abbott Laboratories by 2.4% in the fourth quarter. Ocean Capital Management LLC now owns 3,783 shares of the healthcare product maker’s stock valued at $414,000 after purchasing an additional 87 shares during the period. Finally, Cohen Lawrence B grew its holdings in Abbott Laboratories by 1.2% during the fourth quarter. Cohen Lawrence B now owns 7,608 shares of the healthcare product maker’s stock worth $833,000 after acquiring an additional 89 shares during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Mary K. Moreland sold 505 shares of the company’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $128.49, for a total transaction of $64,887.45. Following the sale, the executive vice president now owns 63,878 shares in the company, valued at $8,207,684.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michelle Kumbier acquired 2,040 shares of the business’s stock in a transaction dated Tuesday, February 23rd. The stock was acquired at an average cost of $122.50 per share, with a total value of $249,900.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 8,726 shares of company stock valued at $1,064,230. Corporate insiders own 1.70% of the company’s stock.

Shares of NYSE ABT traded down $1.03 during mid-day trading on Tuesday, reaching $118.50. 77,123 shares of the company traded hands, compared to its average volume of 5,216,047. Abbott Laboratories has a fifty-two week low of $86.16 and a fifty-two week high of $128.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19. The firm has a market cap of $209.93 billion, a PE ratio of 63.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. The stock has a fifty day simple moving average of $120.90 and a 200-day simple moving average of $115.19.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.05. The firm had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.72 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, analysts predict that Abbott Laboratories will post 3.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Shareholders of record on Thursday, April 15th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $1.80 annualized dividend and a yield of 1.52%. Abbott Laboratories’s payout ratio is 55.56%.

Several analysts recently commented on ABT shares. SVB Leerink raised their target price on Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a report on Thursday, January 28th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Tuesday, February 2nd. Atlantic Securities initiated coverage on Abbott Laboratories in a research report on Wednesday, April 21st. They set a “neutral” rating and a $122.00 price target on the stock. Credit Suisse Group lifted their price target on Abbott Laboratories from $118.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th. Finally, Raymond James raised their price objective on Abbott Laboratories from $126.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, March 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $126.06.

About Abbott Laboratories

Abbott Laboratories 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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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