Chemistry Wealth Management LLC Takes $267,000 Position in Abbott Laboratories (NYSE:ABT)

Chemistry Wealth Management LLC bought a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,363 shares of the healthcare product maker’s stock, valued at approximately $267,000.

Several other large investors have also recently made changes to their positions in the business. Groupama Asset Managment increased its holdings in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories in the 2nd quarter worth about $32,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories in the 3rd quarter worth about $32,000. Finally, Valued Wealth Advisors LLC increased its holdings in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $113.45 on Friday. The business has a 50 day moving average of $115.00 and a 200 day moving average of $112.66. The company has a market capitalization of $196.78 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. On average, 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. Shareholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 66.87%.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent research reports. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Barclays raised their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Oppenheimer started coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Piper Sandler raised their target price 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, Royal Bank of Canada raised their target price 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 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, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.