Retirement Planning Co of New England Inc. Has $3.41 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Retirement Planning Co of New England Inc. lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 119.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,706 shares of the healthcare product maker's stock after acquiring an additional 14,014 shares during the quarter. Abbott Laboratories comprises about 0.9% of Retirement Planning Co of New England Inc.'s investment portfolio, making the stock its 29th biggest holding. Retirement Planning Co of New England Inc.'s holdings in Abbott Laboratories were worth $3,410,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Cim LLC raised its position in shares of Abbott Laboratories by 0.4% in the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after buying an additional 73 shares in the last quarter. Capital Square LLC raised its position in shares of Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after buying an additional 77 shares in the last quarter. Consilium Wealth Advisory LLC raised its position in shares of Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after buying an additional 78 shares in the last quarter. Mayflower Financial Advisors LLC raised its position in shares of Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after buying an additional 78 shares in the last quarter. Finally, Cyrus J. Lawrence LLC raised its position in shares of Abbott Laboratories by 9.0% in the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock valued at $107,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Trading Up 2.7%

Shares of NYSE ABT traded up $3.30 during midday trading on Friday, reaching $123.81. The stock had a trading volume of 19,570,335 shares, compared to its average volume of 6,275,093. The firm has a market cap of $215.41 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 2.50 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. 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 company's 50 day moving average price is $133.17 and its 200 day moving average price is $129.38.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 EPS. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 dividend on an annualized basis and a dividend yield of 1.91%. Abbott Laboratories's payout ratio is presently 30.61%.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction 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 in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ABT has been the subject of several analyst reports. Mizuho boosted their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday. Leerink Partners initiated coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 price target on the stock. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. BTIG Research decreased their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday. Finally, Raymond James Financial decreased their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

About Abbott Laboratories

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.