Abbott Laboratories (NYSE:ABT) Shares Sold by Northeast Investment Management

Northeast Investment Management trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,780 shares of the healthcare product maker’s stock after selling 3,160 shares during the period. Northeast Investment Management’s holdings in Abbott Laboratories were worth $10,692,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Harbour Investment Management LLC lifted its stake in shares of Abbott Laboratories by 0.8% in the 3rd quarter. Harbour Investment Management LLC now owns 27,673 shares of the healthcare product maker’s stock worth $3,155,000 after acquiring an additional 220 shares during the period. BSW Wealth Partners lifted its stake in shares of Abbott Laboratories by 1.5% in the 3rd quarter. BSW Wealth Partners now owns 12,310 shares of the healthcare product maker’s stock worth $1,403,000 after acquiring an additional 180 shares during the period. Nvwm LLC lifted its stake in shares of Abbott Laboratories by 1.5% in the 3rd quarter. Nvwm LLC now owns 13,759 shares of the healthcare product maker’s stock worth $1,569,000 after acquiring an additional 207 shares during the period. Fort Pitt Capital Group LLC lifted its stake in shares of Abbott Laboratories by 1.4% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 798,034 shares of the healthcare product maker’s stock worth $90,984,000 after acquiring an additional 11,254 shares during the period. Finally, Latitude Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $1,234,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

ABT stock opened at $118.60 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $206.35 billion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 2.67 and a beta of 0.72. Abbott Laboratories has a 12 month low of $92.43 and a 12 month high of $121.64. The firm has a 50 day moving average of $114.93 and a two-hundred day moving average of $108.86.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS 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 the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.30%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. As a group, equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.85%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 66.87%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABT. UBS Group increased their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein increased their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

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.