GUNN & Co INVESTMENT MANAGEMENT INC. Purchases Shares of 9,770 Abbott Laboratories (NYSE:ABT)

GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in shares of Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,770 shares of the healthcare product maker’s stock, valued at approximately $1,075,000.

A number of other institutional investors have also recently bought and sold shares of ABT. Wellington Management Group LLP grew its stake in shares of Abbott Laboratories by 4.3% during the 3rd 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 buying an additional 1,298,219 shares during the period. Northern Trust Corp raised its holdings in shares of Abbott Laboratories by 1.5% in the 3rd quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock worth $2,229,122,000 after purchasing an additional 343,559 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Abbott Laboratories by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,153,877 shares of the healthcare product maker’s stock valued at $1,164,611,000 after purchasing an additional 32,157 shares in the last quarter. Flossbach Von Storch AG grew its holdings in shares of Abbott Laboratories by 1.5% during the 4th quarter. Flossbach Von Storch AG now owns 9,149,611 shares of the healthcare product maker’s stock worth $1,007,098,000 after purchasing an additional 135,821 shares during the period. Finally, Invesco Ltd. raised its holdings in Abbott Laboratories by 0.4% in the third quarter. Invesco Ltd. now owns 5,949,700 shares of the healthcare product maker’s stock valued at $576,228,000 after buying an additional 20,851 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock valued at $1,670,048 over the last quarter. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.0 %

NYSE:ABT opened at $105.90 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The company has a market capitalization of $183.76 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 2.55 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 stock has a 50-day simple moving average of $112.52 and a 200 day simple moving average of $108.51.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the previous year, the business earned $1.03 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Sell-side analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup raised their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Barclays decreased their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Royal Bank of Canada reduced their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Raymond James reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $121.50.

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.