Abbott Laboratories (NYSE:ABT) is Pine Haven Investment Counsel Inc’s 8th Largest Position

Pine Haven Investment Counsel Inc trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 23,057 shares of the healthcare product maker’s stock after selling 315 shares during the period. Abbott Laboratories makes up approximately 2.6% of Pine Haven Investment Counsel Inc’s holdings, making the stock its 8th largest holding. Pine Haven Investment Counsel Inc’s holdings in Abbott Laboratories were worth $3,058,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $2,373,461,000. T. Rowe Price Investment Management Inc. increased its holdings in Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock valued at $945,453,000 after buying an additional 6,628,310 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth $635,056,000. GAMMA Investing LLC raised its stake in shares of Abbott Laboratories by 15,420.4% in the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock worth $676,866,000 after buying an additional 5,069,771 shares during the period. Finally, Capital International Investors raised its stake in Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after acquiring an additional 2,229,026 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ABT shares. Citigroup boosted their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Barclays lifted their target price on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Wall Street Zen lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Bank of America boosted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Jefferies Financial Group raised their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $142.59.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $133.61 on Friday. The firm has a market cap of $232.45 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The stock’s 50-day moving average is $130.74 and its two-hundred day moving average is $125.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insider Buying and Selling at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

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.