B. Riley Wealth Advisors Inc. reduced its position in Abbott Laboratories (NYSE:ABT - Free Report) by 19.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 47,313 shares of the healthcare product maker's stock after selling 11,409 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Abbott Laboratories were worth $5,370,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Lantz Financial LLC lifted its holdings in shares of Abbott Laboratories by 5.2% in the second quarter. Lantz Financial LLC now owns 5,737 shares of the healthcare product maker's stock valued at $596,000 after purchasing an additional 281 shares in the last quarter. Brookstone Capital Management grew its holdings in Abbott Laboratories by 3.9% in the 2nd quarter. Brookstone Capital Management now owns 41,771 shares of the healthcare product maker's stock valued at $4,373,000 after buying an additional 1,573 shares in the last quarter. TCW Group Inc. raised its stake in Abbott Laboratories by 2.9% in the 2nd quarter. TCW Group Inc. now owns 25,103 shares of the healthcare product maker's stock worth $2,608,000 after purchasing an additional 719 shares in the last quarter. Western Wealth Management LLC boosted its stake in shares of Abbott Laboratories by 1.4% in the second quarter. Western Wealth Management LLC now owns 12,589 shares of the healthcare product maker's stock valued at $1,308,000 after buying an additional 178 shares during the period. Finally, Means Investment CO. Inc. grew its holdings in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Means Investment CO. Inc. now owns 32,819 shares of the healthcare product maker's stock worth $3,410,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on ABT shares. UBS Group raised their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an "overweight" rating and a $131.00 price objective for the company. Sanford C. Bernstein upped their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Barclays lifted their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $130.71.
Get Our Latest Stock Report on Abbott Laboratories
Abbott Laboratories Stock Performance
NYSE:ABT traded down $0.48 during trading on Friday, reaching $113.38. The company's stock had a trading volume of 4,550,900 shares, compared to its average volume of 5,618,930. The firm has a market cap of $196.65 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. 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 firm has a 50 day moving average of $116.27 and a 200-day moving average of $111.19.
Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion for the quarter, compared to analysts' expectations of $10.55 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. Research analysts expect that Abbott Laboratories will post 4.67 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. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from Abbott Laboratories's previous quarterly dividend of $0.55. Abbott Laboratories's dividend payout ratio is currently 66.87%.
About Abbott Laboratories
(
Free Report)
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.
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