YANKCOM Partnership Takes $1.27 Million Position in Abbott Laboratories (NYSE:ABT)

YANKCOM Partnership purchased a new position in Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,236 shares of the healthcare product maker’s stock, valued at approximately $1,271,000.

Other institutional investors also recently bought and sold shares of the company. Czech National Bank increased its holdings in shares of Abbott Laboratories by 6.9% during the 3rd quarter. Czech National Bank now owns 354,435 shares of the healthcare product maker’s stock valued at $40,409,000 after purchasing an additional 22,932 shares in the last quarter. Atomi Financial Group Inc. raised its position in shares of Abbott Laboratories by 28.8% in the third quarter. Atomi Financial Group Inc. now owns 16,449 shares of the healthcare product maker’s stock worth $1,875,000 after acquiring an additional 3,682 shares during the period. Brookstone Capital Management boosted its stake in shares of Abbott Laboratories by 2.4% during the 3rd quarter. Brookstone Capital Management now owns 42,762 shares of the healthcare product maker’s stock worth $4,875,000 after acquiring an additional 991 shares in the last quarter. Cape ANN Savings Bank grew its position in shares of Abbott Laboratories by 7.2% during the 3rd quarter. Cape ANN Savings Bank now owns 2,453 shares of the healthcare product maker’s stock valued at $280,000 after acquiring an additional 165 shares during the period. Finally, Hoxton Planning & Management LLC acquired a new position in Abbott Laboratories in the 3rd quarter worth about $224,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $132.07 on Thursday. 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 company has a 50 day moving average price of $116.80 and a 200 day moving average price of $114.71. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $132.50. The stock has a market capitalization of $229.06 billion, a P/E ratio of 17.26, a PEG ratio of 2.39 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $11.03 billion. During the same period in the previous year, the company posted $1.19 EPS. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current 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 issued a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Analyst Ratings Changes

A number of analysts have recently commented on ABT shares. Barclays restated an “overweight” rating and issued a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” 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 stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Buying and Selling

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by insiders.

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.