Heritage Family Offices LLP Increases Position in Abbott Laboratories (NYSE:ABT)

Heritage Family Offices LLP boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 23.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,628 shares of the healthcare product maker’s stock after acquiring an additional 1,441 shares during the quarter. Heritage Family Offices LLP’s holdings in Abbott Laboratories were worth $863,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Bath Savings Trust Co boosted its position in Abbott Laboratories by 3.7% in the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after buying an additional 5,881 shares during the last quarter. Simplify Asset Management Inc. lifted its stake in Abbott Laboratories by 67.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after acquiring an additional 5,664 shares during the period. Dundas Partners LLP increased its stake in shares of Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after acquiring an additional 6,897 shares during the period. Pensionfund Sabic purchased a new position in shares of Abbott Laboratories during the fourth quarter worth $2,828,000. Finally, Sequoia Financial Advisors LLC lifted its position in Abbott Laboratories by 19.6% during the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after purchasing an additional 31,720 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Evercore ISI lifted their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Barclays lifted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler upped their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Oppenheimer began coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Finally, 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 report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Trading Down 1.8 %

ABT stock opened at $110.96 on Thursday. The business’s 50-day moving average is $115.14 and its 200 day moving average is $112.67. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The stock has a market cap of $192.46 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 2.69 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.13%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 71.73%.

Abbott Laboratories Company 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.