Armstrong Henry H Associates Inc. Has $2.56 Million Holdings in Abbott Laboratories (NYSE:ABT)

Armstrong Henry H Associates Inc. decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,663 shares of the healthcare product maker’s stock after selling 700 shares during the period. Abbott Laboratories accounts for 0.3% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 22nd biggest holding. Armstrong Henry H Associates Inc.’s holdings in Abbott Laboratories were worth $2,563,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Groupama Asset Managment lifted its position in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the third quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter worth $32,000. Finally, Valued Wealth Advisors LLC increased its position in Abbott Laboratories by 78.4% during the third 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 period. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. UBS Group upped their price target on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, 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. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $131.57.

Abbott Laboratories Stock Up 0.7 %

ABT opened at $113.12 on Tuesday. The firm has a market cap of $196.20 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm’s 50-day simple moving average is $115.23 and its 200-day simple moving average is $112.60. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The company 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%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post 4.67 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 paid a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.09%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is currently 71.73%.

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.