Brave Asset Management Inc. Sells 268 Shares of Abbott Laboratories (NYSE:ABT)

Brave Asset Management Inc. trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.6% in the 4th quarter, Holdings Channel reports. 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 Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. lifted its holdings in Abbott Laboratories by 506.9% in the second quarter. Edgestream Partners L.P. now owns 15,987 shares of the healthcare product maker’s stock valued at $1,661,000 after acquiring an additional 13,353 shares during the period. Financial & Tax Architects LLC lifted its stake in shares of Abbott Laboratories by 9.0% in the 2nd quarter. Financial & Tax Architects LLC now owns 56,553 shares of the healthcare product maker’s stock worth $5,876,000 after purchasing an additional 4,672 shares during the period. Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Abbott Laboratories by 9.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 508,812 shares of the healthcare product maker’s stock worth $52,871,000 after buying an additional 43,764 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in Abbott Laboratories by 12.8% during the second quarter. E Fund Management Co. Ltd. now owns 12,487 shares of the healthcare product maker’s stock valued at $1,298,000 after buying an additional 1,413 shares during the last quarter. Finally, Meridian Wealth Partners LLC raised its position in Abbott Laboratories by 3.1% in the second quarter. Meridian Wealth Partners LLC now owns 3,355 shares of the healthcare product maker’s stock worth $349,000 after acquiring an additional 102 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 1.8 %

Shares of NYSE ABT opened at $110.96 on Thursday. The stock has a market capitalization of $192.46 billion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $115.14 and its 200-day moving average price is $112.67.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same period last year, the company earned $1.14 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 2.13%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is currently 71.73%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABT. Piper Sandler raised their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group raised their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Morgan Stanley increased their target price 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. Evercore ISI boosted their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Finally, UBS Group increased their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average 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.