Stablepoint Partners LLC Buys 460 Shares of Abbott Laboratories (NYSE:ABT)

Stablepoint Partners LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 2.3% in the 4th quarter, HoldingsChannel reports. The firm owned 20,696 shares of the healthcare product maker’s stock after buying an additional 460 shares during the quarter. Stablepoint Partners LLC’s holdings in Abbott Laboratories were worth $2,341,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Crescent Grove Advisors LLC boosted its position in Abbott Laboratories by 40.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 6,518 shares of the healthcare product maker’s stock valued at $737,000 after acquiring an additional 1,886 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its position in shares of Abbott Laboratories by 27.0% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 16,084 shares of the healthcare product maker’s stock valued at $1,819,000 after purchasing an additional 3,420 shares in the last quarter. Duncan Williams Asset Management LLC grew its stake in Abbott Laboratories by 32.4% in the fourth quarter. Duncan Williams Asset Management LLC now owns 4,660 shares of the healthcare product maker’s stock worth $527,000 after purchasing an additional 1,141 shares during the period. Precedent Wealth Partners LLC raised its holdings in Abbott Laboratories by 10.2% in the fourth quarter. Precedent Wealth Partners LLC now owns 2,696 shares of the healthcare product maker’s stock worth $305,000 after purchasing an additional 249 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its position in Abbott Laboratories by 2.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 240,914 shares of the healthcare product maker’s stock valued at $27,250,000 after buying an additional 5,803 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the subject of several research reports. UBS Group increased their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer started coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Wells Fargo & Company upped their price target on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays lifted their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Piper Sandler increased their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.50.

Abbott Laboratories Trading Up 1.5 %

Shares of ABT stock opened at $125.12 on Friday. 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 has a 12-month low of $99.71 and a 12-month high of $125.67. The stock has a market capitalization of $217.01 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 0.73. The firm’s 50 day moving average is $115.26 and its 200 day moving average is $113.31.

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

Abbott Laboratories Increases Dividend

The firm also recently disclosed 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. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 30.85%.

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.