Great Lakes Retirement Inc. Sells 105 Shares of Abbott Laboratories (NYSE:ABT)

Great Lakes Retirement Inc. cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,714 shares of the healthcare product maker’s stock after selling 105 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Abbott Laboratories were worth $1,551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Groupama Asset Managment grew its holdings in 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 in the last quarter. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the third quarter valued at $32,000. Valued Wealth Advisors LLC grew its position in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in Abbott Laboratories during the fourth quarter valued at approximately $34,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Up 0.1 %

Shares of NYSE:ABT opened at $131.48 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 business has a 50 day moving average of $117.75 and a two-hundred day moving average of $115.42. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $132.50. The company has a market capitalization of $228.04 billion, a PE ratio of 17.19, a PEG ratio of 2.39 and a beta of 0.75.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. As a group, analysts forecast that Abbott Laboratories will post 5.14 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. Investors of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is 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 1.80%. Abbott Laboratories’s payout ratio is presently 30.85%.

Analyst Ratings Changes

Several research firms recently weighed in on ABT. Evercore ISI increased their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Stifel Nicolaus upped their target price on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Sanford C. Bernstein upped their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler upped their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.