Mogy Joel R Investment Counsel Inc. Sells 5,575 Shares of Abbott Laboratories (NYSE:ABT)

Mogy Joel R Investment Counsel Inc. cut its holdings in Abbott Laboratories (NYSE:ABT) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,951 shares of the healthcare product maker’s stock after selling 5,575 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $6,379,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ABT. Rise Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $37,000. Stuart Chaussee & Associates Inc. grew its stake in shares of Abbott Laboratories by 236.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after buying an additional 236 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $40,000. Cornerstone Planning Group LLC grew its stake in shares of Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after buying an additional 201 shares during the period. Finally, Legacy Financial Group LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $46,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock traded up $0.67 during mid-day trading on Friday, hitting $107.53. 3,575,566 shares of the stock were exchanged, compared to its average volume of 5,219,304. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a 50-day simple moving average of $113.64 and a 200 day simple moving average of $108.03. 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 $186.58 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.57 and a beta of 0.74.

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

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling

In related news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories 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 $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,435 shares of company stock valued at $6,451,298. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

ABT has been the subject of several research reports. Raymond James restated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday. Evercore ISI raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Barclays cut their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada cut their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Finally, Citigroup lifted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.