Abbott Laboratories (NYSE:ABT) Shares Sold by Brendel Financial Advisors LLC

Brendel Financial Advisors LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,438 shares of the healthcare product maker’s stock after selling 691 shares during the quarter. Abbott Laboratories accounts for about 2.4% of Brendel Financial Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Brendel Financial Advisors LLC’s holdings in Abbott Laboratories were worth $3,895,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bath Savings Trust Co boosted its stake in shares of Abbott Laboratories by 3.7% during the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after buying an additional 5,881 shares during the last quarter. Simplify Asset Management Inc. lifted its stake in Abbott Laboratories by 67.3% during the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after purchasing an additional 5,664 shares during the last quarter. Dundas Partners LLP lifted its stake in Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after purchasing an additional 6,897 shares during the last quarter. Pensionfund Sabic bought a new stake in Abbott Laboratories in the fourth quarter valued at $2,828,000. Finally, Sequoia Financial Advisors LLC lifted its stake in Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after buying an additional 31,720 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $112.97 on Wednesday. The business’s 50-day moving average price is $115.14 and its 200 day moving average price is $112.67. The firm has a market cap of $195.94 billion, a P/E ratio of 34.34, a PEG ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates 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 earned $1.14 earnings per share. As a group, sell-side analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend 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 (DPR) is 71.73%.

Analyst Ratings Changes

ABT has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on 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 initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Royal Bank of Canada raised their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Raymond James reiterated a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Piper Sandler raised 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. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.57.

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.