Global Retirement Partners LLC Buys 2,887 Shares of Abbott Laboratories (NYSE:ABT)

Global Retirement Partners LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,604 shares of the healthcare product maker’s stock after purchasing an additional 2,887 shares during the period. Global Retirement Partners LLC’s holdings in Abbott Laboratories were worth $6,629,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Welch Group LLC lifted its stake in shares of Abbott Laboratories by 5.3% during the fourth quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock valued at $7,744,000 after acquiring an additional 3,479 shares during the period. Bath Savings Trust Co lifted its position in Abbott Laboratories by 3.7% during the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after purchasing an additional 5,881 shares during the period. Bank Pictet & Cie Europe AG raised its stake in shares of Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after buying an additional 2,774 shares during the last quarter. Simplify Asset Management Inc. lifted its holdings in Abbott Laboratories by 67.3% in the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after buying an additional 5,664 shares during the period. Finally, Pensionfund Sabic acquired a new stake in Abbott Laboratories during the 4th quarter worth $2,828,000. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Down 0.4 %

NYSE:ABT opened at $130.12 on Wednesday. Abbott Laboratories has a one year low of $99.71 and a one year high of $132.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market cap of $225.68 billion, a PE ratio of 17.01, a P/E/G ratio of 2.39 and a beta of 0.75. The firm’s 50 day simple moving average is $119.57 and its 200 day simple moving average is $116.42.

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

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ABT shares. Evercore ISI increased their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company upped their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Barclays reaffirmed an “overweight” rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.