Avior Wealth Management LLC Raises Holdings in Abbott Laboratories (NYSE:ABT)

Avior Wealth Management LLC raised its position in Abbott Laboratories (NYSE:ABT) by 10.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 47,093 shares of the healthcare product maker’s stock after purchasing an additional 4,393 shares during the period. Avior Wealth Management LLC’s holdings in Abbott Laboratories were worth $5,327,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the third quarter worth about $31,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 78.4% in the third 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. Highline Wealth Partners LLC purchased a new position in Abbott Laboratories during the third quarter worth approximately $37,000. Finally, JDM Financial Group LLC boosted its stake 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 worth $41,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of a number of recent research reports. Barclays raised their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley lifted 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. Piper Sandler increased their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday. Finally, Oppenheimer initiated coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.93.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $117.76 on Thursday. The stock has a market capitalization of $204.25 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 2.50 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. The business has a 50-day moving average of $114.91 and a 200 day moving average of $113.08. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11,029,400 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. 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 2.00%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 71.73%.

Abbott Laboratories 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.