Quotient Wealth Partners LLC Increases Stake in Abbott Laboratories (NYSE:ABT)

Quotient Wealth Partners LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 13.8% during the fourth quarter, HoldingsChannel reports. The fund owned 5,816 shares of the healthcare product maker’s stock after acquiring an additional 705 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Abbott Laboratories were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories in the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC boosted 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 worth $33,000 after acquiring an additional 127 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in Abbott Laboratories during the third quarter worth approximately $37,000. JDM Financial Group LLC boosted its holdings in shares of Abbott Laboratories by 51.3% in the 3rd 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 last quarter. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 132.0% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 450 shares of the healthcare product maker’s stock worth $51,000 after buying an additional 256 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABT. Stifel Nicolaus boosted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Piper Sandler lifted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company raised their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Argus raised Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four 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. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $133.06.

Abbott Laboratories Trading Up 0.7 %

NYSE:ABT opened at $129.11 on Monday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $132.50. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $223.93 billion, a PE ratio of 16.88, a P/E/G ratio of 2.39 and a beta of 0.75. The business’s 50 day moving average is $117.46 and its two-hundred day moving average is $115.18.

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

Abbott Laboratories Increases Dividend

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

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

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.