North Forty Two & Co. Makes New Investment in Abbott Laboratories (NYSE:ABT)

North Forty Two & Co. bought a new position in Abbott Laboratories (NYSE:ABT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,531 shares of the healthcare product maker's stock, valued at approximately $626,000.

Other institutional investors have also recently modified their holdings of the company. State Street Corp raised its holdings in Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker's stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker's stock worth $3,963,974,000 after purchasing an additional 488,764 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 1.1% during the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker's stock valued at $2,942,709,000 after purchasing an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker's stock worth $1,518,539,000 after buying an additional 2,711,586 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Abbott Laboratories by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,940,321 shares of the healthcare product maker's stock worth $1,463,680,000 after buying an additional 330,844 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now directly owns 74,381 shares of the company's stock, valued at $10,277,222.77. This represents a 1.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares of the company's stock, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded down $0.61 during midday trading on Friday, reaching $126.18. 8,853,820 shares of the company were exchanged, compared to its average volume of 5,482,576. The stock has a market cap of $218.83 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. The business's fifty day moving average is $128.51 and its two-hundred day moving average is $119.90. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts' consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter last year, the business posted $1.19 earnings per share. The business's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories's dividend payout ratio is currently 30.85%.

Analyst Ratings Changes

ABT has been the subject of several research reports. Argus raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Tuesday, January 28th. The Goldman Sachs Group increased their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Bank of America lifted their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Stifel Nicolaus raised their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Finally, Barclays reaffirmed an "overweight" rating and set a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $137.94.

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.