TFC Financial Management Inc. Has $856,000 Stock Position in Abbott Laboratories (NYSE:ABT)

TFC Financial Management Inc. reduced its stake in Abbott Laboratories (NYSE:ABT) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,565 shares of the healthcare product maker’s stock after selling 83 shares during the period. TFC Financial Management Inc.’s holdings in Abbott Laboratories were worth $856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC lifted its holdings in Abbott Laboratories by 13.2% during the third quarter. Exchange Traded Concepts LLC now owns 16,975 shares of the healthcare product maker’s stock worth $1,935,000 after acquiring an additional 1,985 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after acquiring an additional 89 shares in the last quarter. Creative Planning raised its stake in shares of Abbott Laboratories by 6.7% in the 3rd quarter. Creative Planning now owns 808,863 shares of the healthcare product maker’s stock valued at $91,400,000 after purchasing an additional 50,592 shares during the period. Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $204,000. Finally, Occidental Asset Management LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $219,000. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Down 0.7 %

Shares of ABT opened at $130.48 on Thursday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $132.50. The stock has a market capitalization of $226.31 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.39 and a beta of 0.75. 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 fifty day moving average of $118.05 and a 200-day moving average of $115.60.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $11.03 billion. During the same period in the prior year, the company earned $1.19 EPS. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analyst Weigh In

ABT has been the topic of several recent research reports. Morgan Stanley lifted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler lifted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays reaffirmed an “overweight” rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Finally, UBS Group lifted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

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.