Abbott Laboratories (NYSE:ABT) Shares Sold by Graypoint LLC

by · The Markets Daily

Graypoint LLC cut its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 41,895 shares of the healthcare product maker’s stock after selling 842 shares during the quarter. Graypoint LLC’s holdings in Abbott Laboratories were worth $4,739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new position in shares of Abbott Laboratories in the third quarter valued at $32,000. Valued Wealth Advisors LLC grew its holdings in 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 purchasing an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the 2nd quarter worth $32,000. Finally, Highline Wealth Partners LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ABT. Evercore ISI boosted their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Barclays lifted their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada raised their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Piper Sandler Companies initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $131.57.

Read Our Latest Research Report on ABT

Abbott Laboratories Price Performance

Shares of ABT traded down $1.91 during midday trading on Friday, reaching $112.34. The stock had a trading volume of 5,107,864 shares, compared to its average volume of 4,807,738. The firm’s 50 day moving average price is $115.45 and its 200-day moving average price is $112.39. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a market capitalization of $194.85 billion, a P/E ratio of 34.15, a P/E/G ratio of 2.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings data 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. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $1.14 EPS. On average, analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed 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. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.10%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

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.

Further Reading

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