Goelzer Investment Management Inc. Has $937,000 Position in Abbott Laboratories (NYSE:ABT)

by · The Cerbat Gem

Goelzer Investment Management Inc. lessened its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,062 shares of the healthcare product maker’s stock after selling 291 shares during the period. Goelzer Investment Management Inc.’s holdings in Abbott Laboratories were worth $937,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at about $25,000. NewSquare Capital LLC grew its position in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $32,000. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent research reports. Barclays increased their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Morgan Stanley raised their price target on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 17th. Raymond James Financial boosted their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Bank of America raised their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.61.

View Our Latest Research Report on ABT

Abbott Laboratories Trading Down 0.3%

Shares of NYSE:ABT opened at $133.70 on Friday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The company has a market cap of $232.61 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.55 and a beta of 0.73. The stock’s 50-day moving average is $133.20 and its 200-day moving average is $128.16.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s payout ratio is currently 30.61%.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director owned 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Profile

(Free Report)

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.

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