Eagle Ridge Investment Management Has $11.58 Million Holdings in Abbott Laboratories (NYSE:ABT)

Eagle Ridge Investment Management raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 102,390 shares of the healthcare product maker’s stock after buying an additional 430 shares during the quarter. Eagle Ridge Investment Management’s holdings in Abbott Laboratories were worth $11,581,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. GHP Investment Advisors Inc. raised its stake in shares of Abbott Laboratories by 2.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 28,532 shares of the healthcare product maker’s stock valued at $3,227,000 after purchasing an additional 666 shares in the last quarter. Beacon Financial Advisory LLC raised its stake in shares of Abbott Laboratories by 7.1% in the fourth quarter. Beacon Financial Advisory LLC now owns 1,885 shares of the healthcare product maker’s stock valued at $213,000 after purchasing an additional 125 shares in the last quarter. Adero Partners LLC raised its stake in shares of Abbott Laboratories by 9.9% in the fourth quarter. Adero Partners LLC now owns 4,262 shares of the healthcare product maker’s stock valued at $482,000 after purchasing an additional 384 shares in the last quarter. Capital Investment Services of America Inc. raised its stake in shares of Abbott Laboratories by 4.9% in the fourth quarter. Capital Investment Services of America Inc. now owns 3,232 shares of the healthcare product maker’s stock valued at $366,000 after purchasing an additional 150 shares in the last quarter. Finally, YANKCOM Partnership acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at $1,271,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler upped their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $128.20 on Friday. The business’s 50-day simple moving average is $117.06 and its 200 day simple moving average is $114.83. The stock has a market cap of $222.36 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $132.50. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter last year, the business earned $1.19 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.84%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

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.