NorthRock Partners LLC Has $6.21 Million Stake in Abbott Laboratories (NYSE:ABT)

NorthRock Partners LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,801 shares of the healthcare product maker’s stock after buying an additional 674 shares during the quarter. NorthRock Partners LLC’s holdings in Abbott Laboratories were worth $6,208,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Capital International Investors boosted its stake in Abbott Laboratories by 3.4% in the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after purchasing an additional 2,229,026 shares in the last quarter. Capital Research Global Investors boosted its stake in Abbott Laboratories by 1.5% in the fourth quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock worth $6,118,903,000 after purchasing an additional 795,073 shares in the last quarter. Geode Capital Management LLC boosted its stake in Abbott Laboratories by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock worth $4,023,027,000 after purchasing an additional 765,636 shares in the last quarter. Northern Trust Corp boosted its stake in Abbott Laboratories by 10.3% in the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker’s stock worth $2,494,851,000 after purchasing an additional 2,060,650 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after purchasing an additional 1,639,954 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.3%

ABT stock opened at $127.96 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The stock has a market capitalization of $222.62 billion, a P/E ratio of 16.03, a P/E/G ratio of 2.40 and a beta of 0.73. The business has a 50-day moving average of $132.06 and a 200-day moving average of $130.18. Abbott Laboratories has a fifty-two week low of $102.78 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The company had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.84%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Evercore ISI boosted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada boosted their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Leerink Partners assumed coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price for the company. Finally, Raymond James Financial dropped their target price on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.47.

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.