NorthRock Partners LLC Has $1.97 Million Stock Position in Abbott Laboratories (NYSE:ABT)

NorthRock Partners LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 9.9% in the third quarter, HoldingsChannel reports. The fund owned 17,284 shares of the healthcare product maker’s stock after selling 1,891 shares during the period. NorthRock Partners LLC’s holdings in Abbott Laboratories were worth $1,971,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABT. Heritage Investors Management Corp increased its holdings in shares of Abbott Laboratories by 0.8% in the third quarter. Heritage Investors Management Corp now owns 43,997 shares of the healthcare product maker’s stock valued at $5,016,000 after purchasing an additional 336 shares in the last quarter. Pittenger & Anderson Inc. increased its stake in shares of Abbott Laboratories by 0.5% in the 3rd quarter. Pittenger & Anderson Inc. now owns 95,464 shares of the healthcare product maker’s stock valued at $10,884,000 after buying an additional 469 shares during the period. United Advisor Group LLC bought a new stake in shares of Abbott Laboratories during the third quarter worth $302,000. ASB Consultores LLC lifted its stake in shares of Abbott Laboratories by 23.3% during the third quarter. ASB Consultores LLC now owns 5,346 shares of the healthcare product maker’s stock valued at $609,000 after acquiring an additional 1,010 shares during the period. Finally, FSM Wealth Advisors LLC increased its position in Abbott Laboratories by 1.7% in the third quarter. FSM Wealth Advisors LLC now owns 11,209 shares of the healthcare product maker’s stock worth $1,278,000 after purchasing an additional 189 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on ABT. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Mizuho raised their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Barclays raised their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Stock Down 0.3 %

Shares of NYSE:ABT traded down $0.37 during midday trading on Tuesday, reaching $117.28. 417,107 shares of the company were exchanged, compared to its average volume of 5,702,282. The firm has a market cap of $203.42 billion, a PE ratio of 35.76, a P/E/G ratio of 2.79 and a beta of 0.72. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a fifty-two week low of $92.43 and a fifty-two week high of $121.64. The stock has a fifty day simple moving average of $115.03 and a two-hundred day simple moving average of $108.95.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

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.