Forbes J M & Co. LLP Purchases 415 Shares of Abbott Laboratories (NYSE:ABT)

Forbes J M & Co. LLP raised its position in Abbott Laboratories (NYSE:ABT) by 0.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 135,603 shares of the healthcare product maker’s stock after purchasing an additional 415 shares during the period. Abbott Laboratories accounts for 1.5% of Forbes J M & Co. LLP’s holdings, making the stock its 19th biggest position. Forbes J M & Co. LLP’s holdings in Abbott Laboratories were worth $15,338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter valued at $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories in the third quarter valued at about $32,000. Valued Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $37,000. Finally, JDM Financial Group LLC grew its holdings in Abbott Laboratories by 51.3% during the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ABT has been the topic of a number of recent research reports. Piper Sandler upped their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Raymond James restated a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Morgan Stanley increased their target price 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. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Trading Up 0.7 %

Shares of ABT stock opened at $129.11 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business has a 50-day moving average of $117.25 and a 200 day moving average of $114.93. The stock has a market capitalization of $223.93 billion, a PE ratio of 16.88, a P/E/G ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $132.50.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 earnings per share. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

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.