Stableford Capital II LLC Sells 92 Shares of Abbott Laboratories (NYSE:ABT)

Stableford Capital II LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,257 shares of the healthcare product maker’s stock after selling 92 shares during the period. Stableford Capital II LLC’s holdings in Abbott Laboratories were worth $1,726,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the third quarter worth $31,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories during the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC boosted its position in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of Abbott Laboratories during the third quarter worth approximately $37,000. Finally, JDM Financial Group LLC raised its stake in shares of Abbott Laboratories by 51.3% during the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ABT shares. Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Morgan Stanley raised their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler upped their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein increased their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.06.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $127.69 on Friday. The stock has a market cap of $221.47 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 2.38 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $129.85. The company has a 50 day simple moving average of $116.37 and a two-hundred day simple moving average of $114.17. 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 released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. As a group, analysts predict that Abbott Laboratories will post 5.14 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. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 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.