Advocate Group LLC Sells 146 Shares of Abbott Laboratories (NYSE:ABT)

Advocate Group LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,268 shares of the healthcare product maker’s stock after selling 146 shares during the quarter. Advocate Group LLC’s holdings in Abbott Laboratories were worth $1,501,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ABT. Insight Folios Inc boosted its position in shares of Abbott Laboratories by 3.3% during the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after purchasing an additional 87 shares in the last quarter. Sfmg LLC boosted its position in shares of Abbott Laboratories by 1.9% during the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after purchasing an additional 88 shares in the last quarter. Boltwood Capital Management boosted its position in shares of Abbott Laboratories by 0.4% during the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after purchasing an additional 89 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after purchasing an additional 89 shares in the last quarter. Finally, Silicon Valley Capital Partners boosted its position in shares of Abbott Laboratories by 8.7% during the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after purchasing an additional 89 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $125.12 on Friday. The stock has a market cap of $217.01 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $125.67. The stock has a fifty day moving average of $115.26 and a 200-day moving average of $113.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11,029,400 billion. During the same quarter last year, the company earned $1.19 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 5.15 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The company 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 1.89%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 30.85%.

Analyst Ratings Changes

Several equities research analysts recently commented on ABT shares. Piper Sandler upped their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Mizuho increased their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Jefferies Financial Group increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. UBS Group increased their price target on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday. Finally, 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 report on Thursday, October 17th. Four investment 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, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

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.