Opal Wealth Advisors LLC Has $333,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Opal Wealth Advisors LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 7.8% in the 4th quarter, HoldingsChannel reports. The fund owned 2,941 shares of the healthcare product maker’s stock after selling 248 shares during the period. Opal Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $333,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ABT. Massachusetts Financial Services Co. MA boosted its stake in shares of Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares during the last quarter. State Street Corp boosted its stake in shares of Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Abbott Laboratories by 13,194.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after purchasing an additional 1,667,170 shares during the last quarter. Sessa Capital IM L.P. boosted its stake in Abbott Laboratories by 47.1% during the third quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock worth $427,481,000 after acquiring an additional 1,200,409 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Abbott Laboratories by 22,372.2% during the fourth quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock worth $135,886,000 after acquiring an additional 1,196,018 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Up 0.7 %

Shares of Abbott Laboratories stock opened at $129.11 on Monday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.50. The firm has a market cap of $223.93 billion, a PE ratio of 16.88, a PEG ratio of 2.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a 50 day simple moving average of $117.46 and a two-hundred day simple moving average of $115.18.

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 the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the business posted $1.19 earnings per share. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm 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 is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Insiders Place Their Bets

In other Abbott Laboratories 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 transaction of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Barclays reissued an “overweight” rating and set a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. UBS Group increased their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price objective 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, Piper Sandler raised their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

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.