Cranbrook Wealth Management LLC Purchases 207 Shares of Abbott Laboratories (NYSE:ABT)

Cranbrook Wealth Management LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,360 shares of the healthcare product maker’s stock after buying an additional 207 shares during the period. Cranbrook Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,511,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABT. Groupama Asset Managment lifted its holdings in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories during the third quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth about $32,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at about $32,000. Finally, Valued Wealth Advisors LLC raised its holdings 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 buying an additional 127 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Down 0.4 %

NYSE ABT opened at $113.45 on Friday. The stock’s fifty day moving average price is $115.00 and its 200-day moving average price is $112.66. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $196.78 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. As a group, equities analysts forecast that Abbott Laboratories will post 4.67 EPS 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 issued a $0.59 dividend. 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 2.08%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 66.87%.

Analyst Ratings Changes

Several research analysts have commented on ABT shares. Evercore ISI lifted their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Jefferies Financial Group raised their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. 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 report on Thursday, October 17th. Finally, Morgan Stanley upped their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $131.57.

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.