Horizon Bancorp Inc. IN Buys 107 Shares of Abbott Laboratories (NYSE:ABT)

Horizon Bancorp Inc. IN increased its stake in Abbott Laboratories (NYSE:ABT) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,677 shares of the healthcare product maker’s stock after purchasing an additional 107 shares during the quarter. Abbott Laboratories makes up 0.3% of Horizon Bancorp Inc. IN’s investment portfolio, making the stock its 28th largest holding. Horizon Bancorp Inc. IN’s holdings in Abbott Laboratories were worth $532,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ABT. Signature Resources Capital Management LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at $30,000. Richardson Financial Services Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at about $29,000. Finally, True Wealth Design LLC grew its position in Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after buying an additional 302 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.8 %

Shares of ABT traded down $0.87 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 quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $178.02 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 2.48 and a beta of 0.72. The firm’s fifty day moving average price is $104.54 and its 200-day moving average price is $110.00. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $1.03 earnings per share. On average, equities research analysts expect that Abbott Laboratories will post 4.62 EPS for the current 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 dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.15%. Abbott Laboratories’s payout ratio is presently 68.54%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ABT shares. Barclays dropped their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Citigroup decreased their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Finally, Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $120.18.

Insider Activity

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

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.