Fairvoy Private Wealth LLC Makes New $3.48 Million Investment in Abbott Laboratories (NYSE:ABT)

Fairvoy Private Wealth LLC acquired a new stake in Abbott Laboratories (NYSE:ABT) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 30,725 shares of the healthcare product maker’s stock, valued at approximately $3,475,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment raised its holdings in shares of Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $31,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 2.9 %

Shares of Abbott Laboratories stock opened at $128.20 on Friday. The firm has a 50-day moving average of $117.06 and a 200-day moving average of $114.83. The stock has a market cap of $222.36 billion, a PE ratio of 16.76, a PEG ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $132.50. 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 announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The company 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%. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.19 earnings per share. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business 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. This represents a $2.36 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 30.85%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ABT. StockNews.com raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. UBS Group raised their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Mizuho raised their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was 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 of the company’s stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by insiders.

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.