HB Wealth Management LLC Acquires 14,259 Shares of Abbott Laboratories (NYSE:ABT)

HB Wealth Management LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 14.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 113,306 shares of the healthcare product maker’s stock after buying an additional 14,259 shares during the period. HB Wealth Management LLC’s holdings in Abbott Laboratories were worth $12,816,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Financial & Tax Architects LLC boosted its holdings in shares of Abbott Laboratories by 5.1% during the 4th quarter. Financial & Tax Architects LLC now owns 59,069 shares of the healthcare product maker’s stock valued at $6,681,000 after buying an additional 2,860 shares in the last quarter. Premier Path Wealth Partners LLC raised its position in shares of Abbott Laboratories by 8.5% in the 4th quarter. Premier Path Wealth Partners LLC now owns 7,204 shares of the healthcare product maker’s stock worth $815,000 after purchasing an additional 564 shares during the last quarter. Sanibel Captiva Trust Company Inc. raised its position in shares of Abbott Laboratories by 1.0% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 149,203 shares of the healthcare product maker’s stock worth $16,876,000 after purchasing an additional 1,495 shares during the last quarter. Verity & Verity LLC raised its position in shares of Abbott Laboratories by 18.2% in the 4th quarter. Verity & Verity LLC now owns 60,727 shares of the healthcare product maker’s stock worth $6,869,000 after purchasing an additional 9,332 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its position in shares of Abbott Laboratories by 10.1% in the 4th quarter. Integrated Investment Consultants LLC now owns 125,507 shares of the healthcare product maker’s stock worth $14,196,000 after purchasing an additional 11,475 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT stock traded down $0.46 during midday trading on Friday, hitting $113.45. The company’s stock had a trading volume of 6,443,213 shares, compared to its average volume of 4,199,178. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $196.78 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The company has a 50 day moving average of $115.00 and a two-hundred day moving average of $112.66.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the prior year, the company posted $1.14 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts expect that Abbott Laboratories will post 4.67 EPS for the current 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 $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.08%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ABT shares. UBS Group lifted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Sanford C. Bernstein boosted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler upped their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Evercore ISI upped their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.57.

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.