Capital Investment Counsel LLC Boosts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Capital Investment Counsel LLC increased its position in Abbott Laboratories (NYSE:ABT) by 3.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,593 shares of the healthcare product maker’s stock after purchasing an additional 190 shares during the period. Capital Investment Counsel LLC’s holdings in Abbott Laboratories were worth $633,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories during the third quarter valued at $31,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories during the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the third quarter worth approximately $37,000. Finally, JDM Financial Group LLC raised its holdings in shares of Abbott Laboratories by 51.3% during the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after purchasing an additional 123 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 1.7 %

Abbott Laboratories stock opened at $127.28 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm’s 50 day moving average price is $115.50 and its 200-day moving average price is $113.64. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $129.85. The stock has a market cap of $220.76 billion, a P/E ratio of 16.64, a PEG ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 earnings per share. On average, equities analysts predict that Abbott Laboratories will post 5.15 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 1.85%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho lifted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley lifted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Jefferies Financial Group increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Raymond James restated a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

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.