NORTHSTAR ASSET MANAGEMENT Co LLC Has $560,000 Stake in Abbott Laboratories (NYSE:ABT)

NORTHSTAR ASSET MANAGEMENT Co LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 3.9% in the first quarter, HoldingsChannel.com reports. The firm owned 4,225 shares of the healthcare product maker’s stock after selling 171 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Abbott Laboratories were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ABT. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at $25,000. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth about $29,000. Wormser Freres Gestion acquired a new stake in Abbott Laboratories during the 4th quarter worth about $32,000. Finally, JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories during the 1st quarter worth about $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director owned 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $133.70 on Friday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The stock has a market cap of $232.61 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.55 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The firm’s 50-day simple moving average is $133.29 and its 200 day simple moving average is $128.41.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Raymond James Financial increased their price target on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Leerink Partners began coverage on Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 price target for the company. Piper Sandler restated an “overweight” rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Royal Bank Of Canada raised their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Finally, Bank of America raised their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.61.

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.