Great Lakes Retirement Inc. Makes New $811,000 Investment in Abbott Laboratories (NYSE:ABT)

Great Lakes Retirement Inc. purchased a new position in shares of Abbott Laboratories (NYSE:ABT) during the fourth quarter, Holdings Channel reports. The fund purchased 9,230 shares of the healthcare product maker’s stock, valued at approximately $811,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Heritage Wealth Advisors grew its holdings in shares of Abbott Laboratories by 1.9% during the fourth quarter. Heritage Wealth Advisors now owns 6,579 shares of the healthcare product maker’s stock worth $571,000 after buying an additional 120 shares during the last quarter. Hunter Associates Investment Management LLC grew its holdings in shares of Abbott Laboratories by 0.4% during the fourth quarter. Hunter Associates Investment Management LLC now owns 27,887 shares of the healthcare product maker’s stock worth $2,422,000 after buying an additional 120 shares during the last quarter. Private Advisory Group LLC grew its holdings in shares of Abbott Laboratories by 2.6% during the fourth quarter. Private Advisory Group LLC now owns 4,823 shares of the healthcare product maker’s stock worth $419,000 after buying an additional 123 shares during the last quarter. Usca Ria LLC grew its holdings in shares of Abbott Laboratories by 0.6% during the fourth quarter. Usca Ria LLC now owns 21,532 shares of the healthcare product maker’s stock worth $1,870,000 after buying an additional 125 shares during the last quarter. Finally, Circle Wealth Management LLC grew its holdings in shares of Abbott Laboratories by 3.8% during the third quarter. Circle Wealth Management LLC now owns 3,468 shares of the healthcare product maker’s stock worth $290,000 after buying an additional 126 shares during the last quarter. Institutional investors own 75.02% of the company’s stock.

Shares of ABT stock traded down $0.35 during midday trading on Wednesday, reaching $69.34. 2,254,789 shares of the company traded hands, compared to its average volume of 12,030,653. The firm’s 50 day simple moving average is $82.30 and its two-hundred day simple moving average is $84.14. Abbott Laboratories has a 1-year low of $61.61 and a 1-year high of $92.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.44 and a quick ratio of 1.04. The firm has a market cap of $110.78 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 1.65 and a beta of 1.17.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $0.95 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.95. Abbott Laboratories had a net margin of 11.56% and a return on equity of 18.39%. The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.26 billion. During the same period last year, the firm earned $0.81 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts anticipate that Abbott Laboratories will post 3.6 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, April 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

In other news, SVP Michael D. Dale sold 396 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $88.97, for a total transaction of $35,232.12. Following the completion of the transaction, the senior vice president now directly owns 24,343 shares of the company’s stock, valued at approximately $2,165,796.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Philip P. Boudreau sold 10,600 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $82.00, for a total transaction of $869,200.00. Following the transaction, the vice president now directly owns 22,463 shares of the company’s stock, valued at $1,841,966. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 568,733 shares of company stock valued at $50,878,762. Insiders own 1.70% of the company’s stock.

A number of equities analysts recently issued reports on the company. Citigroup assumed coverage on Abbott Laboratories in a report on Wednesday, March 4th. They set a “buy” rating and a $96.00 price target on the stock. UBS Group raised their price target on Abbott Laboratories from $99.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Stifel Nicolaus raised their price target on Abbott Laboratories from $95.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Co raised their price objective on shares of Abbott Laboratories from $97.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Guggenheim downgraded shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $96.13.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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