Oak Harvest Investment Services Purchases 18,131 Shares of Abbott Laboratories (NYSE:ABT)

Oak Harvest Investment Services boosted its holdings in Abbott Laboratories (NYSE:ABT) by 32.7% during the first quarter, Holdings Channel.com reports. The fund owned 73,651 shares of the healthcare product maker’s stock after buying an additional 18,131 shares during the quarter. Abbott Laboratories accounts for 1.4% of Oak Harvest Investment Services’ investment portfolio, making the stock its 24th largest holding. Oak Harvest Investment Services’ holdings in Abbott Laboratories were worth $8,371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $2,115,836,000. Capital Research Global Investors grew its holdings in shares of Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after purchasing an additional 7,527,778 shares during the last quarter. Boston Partners increased its stake in shares of Abbott Laboratories by 12,577.8% in the fourth quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker’s stock worth $415,948,000 after buying an additional 3,742,912 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Abbott Laboratories by 41.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,009,838 shares of the healthcare product maker’s stock valued at $551,434,000 after buying an additional 1,477,671 shares during the last quarter. Finally, Capital International Investors grew its holdings in Abbott Laboratories by 2.3% in the 4th quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock worth $7,077,148,000 after acquiring an additional 1,457,847 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.8 %

Shares of ABT stock traded down $0.87 during mid-day trading on Thursday, hitting $102.33. The company’s stock had a trading volume of 2,017,846 shares, compared to its average volume of 5,739,068. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock has a market cap of $178.02 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 2.48 and a beta of 0.72. The business has a 50-day moving average price of $104.54 and a 200 day moving average price of $110.00.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Research analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Insiders Place Their Bets

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Citigroup decreased their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Barclays lowered their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Finally, Evercore ISI lowered their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.18.

Abbott Laboratories 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.