Wealth Effects LLC Reduces Stock Position in Abbott Laboratories (NYSE:ABT)

Wealth Effects LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,274 shares of the healthcare product maker’s stock after selling 100 shares during the period. Wealth Effects LLC’s holdings in Abbott Laboratories were worth $710,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the 3rd quarter valued at approximately $31,000. Peterson Financial Group Inc. purchased a new position in shares of Abbott Laboratories during the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC lifted its stake in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the period. Highline Wealth Partners LLC bought a new stake in Abbott Laboratories in the third quarter valued at $37,000. Finally, JDM Financial Group LLC increased its position in Abbott Laboratories by 51.3% during the 3rd quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after purchasing an additional 123 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 3.6 %

ABT opened at $129.51 on Tuesday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $129.76. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average price of $115.26 and a 200-day moving average price of $113.46. The stock has a market capitalization of $224.63 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate 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 $11,029,400 billion. During the same period in the prior year, the firm earned $1.19 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Abbott Laboratories will post 5.15 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.82%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ABT. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Piper Sandler increased their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Mizuho increased their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.06.

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.