Aprio Wealth Management LLC Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

Aprio Wealth Management LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 46.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,400 shares of the healthcare product maker’s stock after buying an additional 1,724 shares during the period. Aprio Wealth Management LLC’s holdings in Abbott Laboratories were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories during the 3rd quarter valued at $32,000. Valued Wealth Advisors LLC boosted its stake in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories during the 2nd quarter valued at $32,000. Finally, Highline Wealth Partners LLC purchased a new stake in Abbott Laboratories during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Evercore ISI increased their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Jefferies Financial Group raised their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Piper Sandler raised their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Piper Sandler Companies assumed coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.57.

Abbott Laboratories Price Performance

ABT stock opened at $112.34 on Monday. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company’s fifty day moving average price is $115.33 and its 200-day moving average price is $112.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market capitalization of $194.85 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its 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. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.10%. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

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.