NorthRock Partners LLC Purchases 28,757 Shares of Abbott Laboratories (NYSE:ABT)

NorthRock Partners LLC increased its position in Abbott Laboratories (NYSE:ABT - Free Report) by 166.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,041 shares of the healthcare product maker's stock after buying an additional 28,757 shares during the period. NorthRock Partners LLC's holdings in Abbott Laboratories were worth $5,208,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Abbott Laboratories by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock valued at $19,075,481,000 after buying an additional 739,260 shares during the period. Capital International Investors lifted its position in Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock valued at $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Capital Research Global Investors lifted its position in Abbott Laboratories by 1.5% in the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock valued at $6,118,903,000 after acquiring an additional 795,073 shares in the last quarter. Geode Capital Management LLC lifted its position in Abbott Laboratories by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock valued at $4,023,027,000 after acquiring an additional 765,636 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Abbott Laboratories by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock valued at $2,985,233,000 after acquiring an additional 581,325 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded up $1.44 during mid-day trading on Friday, reaching $134.79. The company's stock had a trading volume of 7,128,620 shares, compared to its average volume of 6,120,941. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a market capitalization of $234.51 billion, a P/E ratio of 17.62, a PEG ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm's fifty day moving average price is $129.36 and its two-hundred day moving average price is $124.03.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.75%. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ABT shares. Citigroup raised their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Royal Bank of Canada lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Argus raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. The Goldman Sachs Group lifted their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Activity

In other 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 completion of the transaction, the director now directly owns 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares of the company's stock, valued at $9,625,404.96. This represents a 55.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,278 shares of company stock worth $12,745,859 in the last three months. Corporate insiders own 0.46% of the company's stock.

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.