Aprio Wealth Management LLC Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Aprio Wealth Management LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 46.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,400 shares of the healthcare product maker’s stock after acquiring an additional 1,724 shares during the period. Aprio Wealth Management LLC’s holdings in Abbott Laboratories were worth $611,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ABT. Thoroughbred Financial Services LLC increased its position in Abbott Laboratories by 10.4% during the second quarter. Thoroughbred Financial Services LLC now owns 19,922 shares of the healthcare product maker’s stock valued at $2,070,000 after acquiring an additional 1,882 shares during the last quarter. William Blair Investment Management LLC increased its position in Abbott Laboratories by 3.6% during the second quarter. William Blair Investment Management LLC now owns 118,828 shares of the healthcare product maker’s stock valued at $12,347,000 after acquiring an additional 4,166 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in Abbott Laboratories by 14.5% during the second quarter. J.W. Cole Advisors Inc. now owns 23,702 shares of the healthcare product maker’s stock valued at $2,463,000 after acquiring an additional 3,010 shares during the last quarter. Williams Financial LLC bought a new position in Abbott Laboratories during the second quarter valued at $442,000. Finally, Diversify Wealth Management LLC bought a new position in Abbott Laboratories during the second quarter valued at $1,961,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $112.34 on Monday. The firm has a market capitalization of $194.85 billion, a P/E ratio of 34.15, a PEG ratio of 2.69 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $115.33 and a 200 day moving average price of $112.54. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64.

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 firm 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 revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. Sell-side analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed 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. This represents a $2.36 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 71.73%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research analyst reports. Evercore ISI upped their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Barclays upped their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Royal Bank of Canada upped their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Finally, Morgan Stanley increased their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.