Abbott Laboratories (NYSE:ABT) Shares Bought by Choreo LLC

Choreo LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 28.9% during the 4th quarter, Holdings Channel reports. The firm owned 118,585 shares of the healthcare product maker’s stock after buying an additional 26,606 shares during the quarter. Choreo LLC’s holdings in Abbott Laboratories were worth $13,385,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Tectonic Advisors LLC grew its holdings in Abbott Laboratories by 0.8% in the fourth quarter. Tectonic Advisors LLC now owns 17,101 shares of the healthcare product maker’s stock valued at $1,934,000 after purchasing an additional 142 shares during the period. Nvwm LLC lifted its position in shares of Abbott Laboratories by 0.9% in the fourth quarter. Nvwm LLC now owns 13,884 shares of the healthcare product maker’s stock valued at $1,570,000 after acquiring an additional 125 shares in the last quarter. Money Concepts Capital Corp lifted its position in shares of Abbott Laboratories by 2.6% in the fourth quarter. Money Concepts Capital Corp now owns 12,371 shares of the healthcare product maker’s stock valued at $1,399,000 after acquiring an additional 315 shares in the last quarter. Confluence Wealth Services Inc. lifted its position in Abbott Laboratories by 80.3% during the fourth quarter. Confluence Wealth Services Inc. now owns 26,881 shares of the healthcare product maker’s stock worth $3,312,000 after buying an additional 11,972 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Abbott Laboratories by 26.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 234,547 shares of the healthcare product maker’s stock worth $25,175,000 after buying an additional 49,586 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the topic of a number of analyst reports. StockNews.com upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Barclays reiterated an “overweight” rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Stifel Nicolaus lifted their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Mizuho lifted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Abbott Laboratories Trading Up 0.6 %

Shares of ABT stock opened at $129.18 on Wednesday. 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 stock has a market capitalization of $224.06 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. The company has a 50 day moving average price of $116.80 and a 200 day moving average price of $114.71. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $129.85.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 earnings per share. Equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 dividend on an annualized basis and a yield of 1.83%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is currently 30.85%.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by insiders.

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.