North Point Portfolio Managers Corp OH Cuts Stock Position in Abbott Laboratories (NYSE:ABT)

North Point Portfolio Managers Corp OH trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,444 shares of the healthcare product maker’s stock after selling 3,043 shares during the period. Abbott Laboratories accounts for about 1.9% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 29th biggest holding. North Point Portfolio Managers Corp OH’s holdings in Abbott Laboratories were worth $11,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Groupama Asset Managment raised its holdings in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the third quarter valued at approximately $31,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories during the third quarter worth $32,000. Valued Wealth Advisors LLC boosted its stake in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the period. Finally, Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories during the 3rd quarter valued at $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Raymond James restated a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Mizuho upped 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. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, UBS Group increased their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Stock Performance

ABT stock opened at $125.12 on Monday. The stock’s fifty day moving average is $115.26 and its two-hundred day moving average is $113.46. The stock has a market capitalization of $217.01 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.51 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $125.67.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11,029,400 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 EPS. On average, research analysts predict that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

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.