Abbott Laboratories (NYSE:ABT) Shares Sold by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,663 shares of the healthcare product maker’s stock after selling 700 shares during the quarter. Abbott Laboratories comprises 0.3% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 22nd largest holding. Armstrong Henry H Associates Inc.’s holdings in Abbott Laboratories were worth $2,563,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABT. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the third quarter valued at about $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories in the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC boosted its position in shares of 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 in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $32,000. Finally, Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories during the third quarter valued at approximately $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of ABT opened at $113.12 on Tuesday. 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 firm has a market cap of $196.20 billion, a PE ratio of 34.38, a PEG ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The firm’s 50 day moving average price is $115.23 and its 200 day moving average price is $112.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. As a group, research analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed 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 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 dividend on an annualized basis and a dividend yield of 2.09%. Abbott Laboratories’s dividend payout ratio is currently 71.73%.

Analyst Ratings Changes

ABT has been the topic of several recent research reports. Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. 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 report on Thursday, October 17th. Royal Bank of Canada lifted their price target on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Piper Sandler increased their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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.