Jackson Grant Investment Advisers Inc. Has $935,000 Position in Abbott Laboratories (NYSE:ABT)

Jackson Grant Investment Advisers Inc. reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,270 shares of the healthcare product maker’s stock after selling 501 shares during the period. Jackson Grant Investment Advisers Inc.’s holdings in Abbott Laboratories were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $31,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories in the third quarter worth approximately $32,000. Valued Wealth Advisors LLC boosted its holdings 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 valued at $33,000 after acquiring an additional 127 shares during the last quarter. Highline Wealth Partners LLC bought a new position in Abbott Laboratories during the 3rd quarter worth approximately $37,000. Finally, JDM Financial Group LLC lifted its position in shares of Abbott Laboratories by 51.3% in the 3rd quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company boosted their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Raymond James reaffirmed a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Barclays restated an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Finally, Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $132.07 on Thursday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week 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. The business has a 50 day moving average price of $116.80 and a 200-day moving average price of $114.71. The company has a market cap of $229.06 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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 business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same period last year, the business earned $1.19 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 1.79%. 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 Abbott Laboratories stock in a transaction on 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 directly owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.47% of the company’s stock.

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.