Northeast Investment Management Sells 119 Shares of Abbott Laboratories (NYSE:ABT)

Northeast Investment Management trimmed its position in Abbott Laboratories (NYSE:ABT) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,661 shares of the healthcare product maker’s stock after selling 119 shares during the quarter. Northeast Investment Management’s holdings in Abbott Laboratories were worth $10,594,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Groupama Asset Managment raised its holdings in shares of Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares during the period. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the third quarter worth approximately $32,000. Valued Wealth Advisors LLC raised its position in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter worth $37,000. Finally, JDM Financial Group LLC increased its stake in shares of Abbott Laboratories by 51.3% during the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after buying an additional 123 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.7 %

Shares of NYSE ABT opened at $129.11 on Friday. The stock has a fifty day moving average price of $117.46 and a 200 day moving average price of $115.10. The company has a market cap of $223.94 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.39 and a beta of 0.75. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $132.50. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 30.85%.

Insider Buying and Selling

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Piper Sandler upped their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus boosted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Mizuho boosted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Abbott Laboratories Company 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.