Hoylecohen LLC Acquires 1,314 Shares of Abbott Laboratories (NYSE:ABT)

Hoylecohen LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,990 shares of the healthcare product maker’s stock after acquiring an additional 1,314 shares during the quarter. Hoylecohen LLC’s holdings in Abbott Laboratories were worth $8,474,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of Abbott Laboratories by 4.3% during the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after purchasing an additional 1,298,219 shares during the period. Northern Trust Corp boosted its stake in shares of Abbott Laboratories by 1.5% during the third quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock valued at $2,229,122,000 after purchasing an additional 343,559 shares during the period. Norges Bank purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $2,115,836,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Abbott Laboratories by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,360,908 shares of the healthcare product maker’s stock valued at $1,346,959,000 after acquiring an additional 207,031 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Abbott Laboratories by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 9,930,872 shares of the healthcare product maker’s stock valued at $1,093,091,000 after acquiring an additional 236,741 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT traded down $0.28 on Friday, hitting $103.95. 4,455,647 shares of the company’s stock traded hands, compared to its average volume of 5,639,875. The company’s 50 day simple moving average is $108.29 and its 200-day simple moving average is $109.47. The firm has a market cap of $180.83 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 2.52 and a beta of 0.76. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (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 the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank of Canada decreased their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Evercore ISI increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Barclays decreased their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Finally, Citigroup decreased their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.60.

Insider Activity at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the transaction, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction 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 sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. Insiders sold a total of 34,384 shares of company stock worth $3,653,916 in the last quarter. 1.10% of the stock is owned by company insiders.

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.