North Point Portfolio Managers Corp OH Lowers Position in Abbott Laboratories (NYSE:ABT)

North Point Portfolio Managers Corp OH lessened its position in Abbott Laboratories (NYSE:ABTFree Report) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,063 shares of the healthcare product maker’s stock after selling 898 shares during the quarter. Abbott Laboratories accounts for approximately 2.1% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 29th largest holding. North Point Portfolio Managers Corp OH’s holdings in Abbott Laboratories were worth $11,454,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ABT. Halpern Financial Inc. purchased a new position in shares of Abbott Laboratories during the third quarter worth approximately $26,000. Altshuler Shaham Ltd purchased a new position in Abbott Laboratories in the 4th quarter worth $28,000. Cornerstone Planning Group LLC purchased a new stake in Abbott Laboratories during the second quarter valued at about $28,000. CGC Financial Services LLC bought a new position in shares of Abbott Laboratories during the second quarter valued at about $32,000. Finally, FWL Investment Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $33,000. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the sale, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,435 shares of company stock valued at $6,451,298. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Down 0.0 %

NYSE:ABT traded down $0.05 during mid-day trading on Wednesday, hitting $111.97. 791,152 shares of the company’s stock were exchanged, compared to its average volume of 5,622,044. The company has a market cap of $194.29 billion, a PE ratio of 34.36, a P/E/G ratio of 2.70 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The business has a fifty day moving average price of $115.02 and a 200 day moving average price of $106.74.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share for the quarter, hitting the consensus estimate of $1.19. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.19 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 1.96%. Abbott Laboratories’s dividend payout ratio is currently 67.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABT shares. Citigroup lifted their price target on Abbott Laboratories from $123.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada reissued an “outperform” rating and set a $128.00 price target on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Raymond James raised their target price on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

View Our Latest Stock Analysis on Abbott Laboratories

About Abbott Laboratories

(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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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