Abbott Laboratories (NYSE:ABT) Position Boosted by Iron Horse Wealth Management LLC

Iron Horse Wealth Management LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 150.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,128 shares of the healthcare product maker’s stock after purchasing an additional 678 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Abbott Laboratories were worth $128,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Abbott Laboratories by 3.1% during the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after buying an additional 2,323,807 shares during the period. Geode Capital Management LLC boosted its position in Abbott Laboratories by 1.4% during the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after purchasing an additional 488,764 shares during the last quarter. Wellington Management Group LLP grew its stake in Abbott Laboratories by 1.1% in the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock valued at $2,942,709,000 after purchasing an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Abbott Laboratories by 5.6% during the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after purchasing an additional 585,915 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABT has been the topic of several recent research reports. Sanford C. Bernstein raised their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. 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 report on Thursday, October 17th. StockNews.com upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Piper Sandler upped 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. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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 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 completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is owned by company insiders.

Abbott Laboratories Price Performance

NYSE:ABT opened at $128.20 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. Abbott Laboratories has a one year low of $99.71 and a one year high of $132.50. The company has a fifty day moving average price of $117.06 and a 200 day moving average price of $114.83. The stock has a market cap of $222.36 billion, a P/E ratio of 16.76, 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 net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter last year, the company earned $1.19 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The company 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.84%. 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. Abbott Laboratories’s dividend payout ratio 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.