Hennion & Walsh Asset Management Inc. reduced its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 53.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,827 shares of the healthcare product maker's stock after selling 14,801 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Abbott Laboratories were worth $1,451,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Insight Folios Inc increased its stake in shares of Abbott Laboratories by 3.3% during the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker's stock valued at $307,000 after acquiring an additional 87 shares during the period. Sfmg LLC raised its holdings in Abbott Laboratories by 1.9% during the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker's stock worth $527,000 after buying an additional 88 shares during the period. Boltwood Capital Management boosted its stake in Abbott Laboratories by 0.4% in the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker's stock worth $2,488,000 after purchasing an additional 89 shares during the period. Wedge Capital Management L L P NC grew its stake in Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker's stock valued at $359,000 after acquiring an additional 89 shares in the last quarter. Finally, Silicon Valley Capital Partners increased its stake in shares of Abbott Laboratories by 8.7% in the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker's stock worth $126,000 after acquiring an additional 89 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an "outperform" rating and a $130.00 price objective for the company. Piper Sandler raised their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Royal Bank of Canada increased their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Finally, Raymond James reissued a "buy" rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $131.57.
Read Our Latest Analysis on ABT
Abbott Laboratories Stock Performance
Shares of NYSE ABT traded down $0.46 during trading hours on Friday, reaching $113.45. The stock had a trading volume of 6,443,213 shares, compared to its average volume of 4,199,178. The firm has a 50-day moving average of $114.93 and a 200-day moving average of $112.80. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The firm has a market cap of $196.78 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.
Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly 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 company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter last year, the business earned $1.14 EPS. Abbott Laboratories's revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.
Abbott Laboratories Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. 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 currently 66.87%.
Abbott Laboratories Profile
(
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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