Brave Asset Management Inc. Has $633,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Brave Asset Management Inc. lessened its position in Abbott Laboratories (NYSE:ABT) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,594 shares of the healthcare product maker’s stock after selling 268 shares during the period. Brave Asset Management Inc.’s holdings in Abbott Laboratories were worth $633,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Insight Folios Inc increased its stake in shares of Abbott Laboratories by 3.3% in the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after buying an additional 87 shares during the period. Sfmg LLC grew its holdings in Abbott Laboratories by 1.9% in the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after acquiring an additional 88 shares during the last quarter. Boltwood Capital Management increased its position in shares of Abbott Laboratories by 0.4% in the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after acquiring an additional 89 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after acquiring an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its stake in shares of Abbott Laboratories by 8.7% in the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 1.8 %

Abbott Laboratories stock opened at $110.96 on Thursday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a market capitalization of $192.46 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The business’s fifty day simple moving average is $115.14 and its two-hundred day simple moving average is $112.67. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 EPS. As a group, equities analysts predict that Abbott Laboratories will post 4.67 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. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. 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 2.13%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 71.73%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Mizuho raised their target price 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. Finally, Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

About Abbott Laboratories

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.