Northern Financial Advisors Inc Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Northern Financial Advisors Inc raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,403 shares of the healthcare product maker’s stock after buying an additional 196 shares during the period. Northern Financial Advisors Inc’s holdings in Abbott Laboratories were worth $375,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Rise Advisors LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at $37,000. Stuart Chaussee & Associates Inc. raised its position in shares of Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after acquiring an additional 236 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth about $40,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 1.6 %

ABT traded down $1.75 on Wednesday, hitting $104.42. 2,201,905 shares of the company were exchanged, compared to its average volume of 5,514,209. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The company has a market cap of $181.65 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 2.55 and a beta of 0.76. The firm has a 50-day moving average price of $112.00 and a two-hundred day moving average price of $108.85. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. On average, equities analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued 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 2.11%. Abbott Laboratories’s payout ratio is currently 68.54%.

Insider Activity

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,935 shares of company stock worth $1,670,048. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of several research analyst reports. Royal Bank of Canada dropped their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Barclays reduced their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Raymond James restated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Citigroup boosted their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

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.