Global Retirement Partners LLC Has $6.63 Million Stake in Abbott Laboratories (NYSE:ABT)

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

A number of other hedge funds have also made changes to their positions in ABT. Insight Folios Inc boosted its position in Abbott Laboratories by 3.3% during the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after purchasing an additional 87 shares during the period. Sfmg LLC boosted its holdings in shares of Abbott Laboratories by 1.9% during the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after buying an additional 88 shares during the period. River Street Advisors LLC grew its stake in Abbott Laboratories by 1.2% in the 4th quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock valued at $834,000 after buying an additional 88 shares during the last quarter. Silicon Valley Capital Partners lifted its position in Abbott Laboratories by 8.7% during the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after acquiring an additional 89 shares during the last quarter. Finally, John G Ullman & Associates Inc. boosted its holdings in Abbott Laboratories by 0.3% during the third quarter. John G Ullman & Associates Inc. now owns 30,617 shares of the healthcare product maker’s stock valued at $3,491,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.4 %

ABT stock opened at $130.12 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market cap of $225.68 billion, a P/E ratio of 17.01, a P/E/G ratio of 2.39 and a beta of 0.75. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $132.65. The business’s 50 day moving average is $119.57 and its 200-day moving average is $116.42.

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

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th were given a $0.59 dividend. The ex-dividend date was Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.81%. Abbott Laboratories’s payout ratio is 30.85%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ABT shares. Evercore ISI boosted their price objective on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 21st. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays restated an “overweight” rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.