Abbott Laboratories (NYSE:ABT) Shares Sold by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,972 shares of the healthcare product maker’s stock after selling 1,260 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Abbott Laboratories were worth $1,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Thoroughbred Financial Services LLC boosted its holdings in Abbott Laboratories by 10.4% in the second quarter. Thoroughbred Financial Services LLC now owns 19,922 shares of the healthcare product maker’s stock valued at $2,070,000 after purchasing an additional 1,882 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Abbott Laboratories by 3.6% in the second quarter. William Blair Investment Management LLC now owns 118,828 shares of the healthcare product maker’s stock worth $12,347,000 after acquiring an additional 4,166 shares during the period. J.W. Cole Advisors Inc. boosted its position in Abbott Laboratories by 14.5% during the second quarter. J.W. Cole Advisors Inc. now owns 23,702 shares of the healthcare product maker’s stock worth $2,463,000 after purchasing an additional 3,010 shares in the last quarter. Williams Financial LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $442,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $1,961,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.7 %

NYSE ABT traded up $0.81 on Monday, reaching $113.12. The stock had a trading volume of 4,408,749 shares, compared to its average volume of 4,755,447. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The stock has a fifty day moving average price of $115.33 and a two-hundred day moving average price of $112.54. The firm has a market capitalization of $196.20 billion, a price-to-earnings ratio of 34.38, a P/E/G ratio of 2.69 and a beta of 0.73. 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) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 2.09%. Abbott Laboratories’s dividend payout ratio (DPR) is 71.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABT. UBS Group raised their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Piper Sandler increased their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

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.