DMC Group LLC Decreases Stock Position in Abbott Laboratories (NYSE:ABT)

DMC Group LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,408 shares of the healthcare product maker’s stock after selling 645 shares during the quarter. DMC Group LLC’s holdings in Abbott Laboratories were worth $385,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABT. Baron Wealth Management LLC grew its holdings in shares of Abbott Laboratories by 72.4% during the fourth quarter. Baron Wealth Management LLC now owns 3,544 shares of the healthcare product maker’s stock valued at $401,000 after buying an additional 1,488 shares during the last quarter. Gries Financial LLC grew its stake in Abbott Laboratories by 6.7% during the 4th quarter. Gries Financial LLC now owns 15,513 shares of the healthcare product maker’s stock valued at $1,755,000 after purchasing an additional 971 shares during the last quarter. Hanson & Doremus Investment Management increased its holdings in shares of Abbott Laboratories by 15.3% in the fourth quarter. Hanson & Doremus Investment Management now owns 12,876 shares of the healthcare product maker’s stock valued at $1,456,000 after purchasing an additional 1,711 shares during the period. Foster & Motley Inc. lifted its holdings in shares of Abbott Laboratories by 17.7% during the fourth quarter. Foster & Motley Inc. now owns 5,309 shares of the healthcare product maker’s stock worth $600,000 after purchasing an additional 800 shares during the period. Finally, Invesco LLC increased its holdings in Abbott Laboratories by 13.4% in the 4th quarter. Invesco LLC now owns 10,500 shares of the healthcare product maker’s stock worth $1,188,000 after buying an additional 1,244 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.4 %

ABT stock opened at $127.86 on Thursday. The business’s 50-day moving average is $115.71 and its 200 day moving average is $113.80. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $129.85. The stock has a market cap of $221.77 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.51 and a beta of 0.73. 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 issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same period in the previous year, the business earned $1.19 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.15 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. 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 1.85%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the subject of several research reports. UBS Group lifted their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley increased their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” 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 target price on the stock. Piper Sandler boosted 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. Finally, Jefferies Financial Group raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.06.

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.