NorthCrest Asset Manangement LLC Purchases 472 Shares of Abbott Laboratories (NYSE:ABT)

NorthCrest Asset Manangement LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,291 shares of the healthcare product maker’s stock after purchasing an additional 472 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Abbott Laboratories were worth $7,330,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ABT. Boltwood Capital Management raised its holdings in shares of Abbott Laboratories by 0.4% in the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after acquiring an additional 89 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after buying an additional 89 shares in the last quarter. Atwood & Palmer Inc. raised its position in Abbott Laboratories by 6.5% in the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after buying an additional 90 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Abbott Laboratories by 2.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock valued at $461,000 after acquiring an additional 91 shares in the last quarter. Finally, Hanson & Doremus Investment Management boosted its holdings in Abbott Laboratories by 0.8% during the 2nd quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock worth $1,160,000 after acquiring an additional 92 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the 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 transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Citigroup increased their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler boosted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Mizuho raised their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley boosted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock traded down $2.32 during trading on Friday, hitting $114.22. The stock had a trading volume of 5,989,611 shares, compared to its average volume of 5,724,433. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. The business’s 50-day moving average is $114.63 and its 200 day moving average is $108.70. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The firm has a market cap of $198.70 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

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.