Great Diamond Partners LLC Has $2.25 Million Position in Abbott Laboratories (NYSE:ABT)

Great Diamond Partners LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,910 shares of the healthcare product maker’s stock after selling 167 shares during the period. Great Diamond Partners LLC’s holdings in Abbott Laboratories were worth $2,252,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Caprock Group LLC grew its position in shares of Abbott Laboratories by 12.5% in the fourth quarter. Caprock Group LLC now owns 54,097 shares of the healthcare product maker’s stock valued at $6,119,000 after purchasing an additional 6,022 shares during the last quarter. Hamilton Point Investment Advisors LLC grew its holdings in Abbott Laboratories by 9.2% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 9,855 shares of the healthcare product maker’s stock valued at $1,115,000 after buying an additional 831 shares in the last quarter. Powers Advisory Group LLC lifted its holdings in shares of Abbott Laboratories by 4.5% during the fourth quarter. Powers Advisory Group LLC now owns 3,073 shares of the healthcare product maker’s stock worth $348,000 after buying an additional 132 shares in the last quarter. Integris Wealth Management LLC boosted its position in shares of Abbott Laboratories by 3.2% in the fourth quarter. Integris Wealth Management LLC now owns 4,767 shares of the healthcare product maker’s stock valued at $539,000 after acquiring an additional 150 shares during the period. Finally, Fortune Financial Advisors LLC grew its stake in shares of Abbott Laboratories by 4.1% in the fourth quarter. Fortune Financial Advisors LLC now owns 11,291 shares of the healthcare product maker’s stock valued at $1,277,000 after acquiring an additional 443 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $127.69 on Friday. The company has a market capitalization of $221.47 billion, a PE ratio of 16.69, a P/E/G ratio of 2.38 and a beta of 0.73. 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 stock has a 50-day moving average price of $116.17 and a two-hundred day moving average price of $114.00. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $129.85.

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

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 30.85%.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction 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 directly owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ABT shares. Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. UBS Group raised their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Barclays reissued an “overweight” rating and set a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Evercore ISI boosted their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.