Flagship Harbor Advisors LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,734 shares of the healthcare product maker’s stock after purchasing an additional 1,192 shares during the period. Flagship Harbor Advisors LLC’s holdings in Abbott Laboratories were worth $1,893,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Insight Folios Inc lifted its stake in Abbott Laboratories by 3.3% during the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after purchasing an additional 87 shares during the last quarter. Sfmg LLC grew its stake in shares of Abbott Laboratories by 1.9% during the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after buying an additional 88 shares during the last quarter. Boltwood Capital Management increased its holdings in shares of Abbott Laboratories by 0.4% during the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after buying an additional 89 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Abbott Laboratories by 2.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after acquiring an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its position in Abbott Laboratories by 8.7% during the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after acquiring an additional 89 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
ABT has been the subject of several research reports. Morgan Stanley increased their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Raymond James reissued a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Evercore ISI lifted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.
Abbott Laboratories Stock Up 1.5 %
Abbott Laboratories stock opened at $125.12 on Monday. The company has a market capitalization of $217.01 billion, a PE ratio of 16.36, a PEG ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $125.67. The firm’s fifty day moving average is $115.26 and its 200 day moving average is $113.39. 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 – Get Free Report) last released its quarterly earnings data 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 net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11,029,400 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Abbott Laboratories will post 5.15 EPS for the current fiscal year.
Abbott Laboratories Increases Dividend
The company 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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change 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 presently 30.85%.
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.
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