Abbott Laboratories (NYSE:ABT) Holdings Cut by Jmac Enterprises LLC

Jmac Enterprises LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,089 shares of the healthcare product maker’s stock after selling 392 shares during the quarter. Jmac Enterprises LLC’s holdings in Abbott Laboratories were worth $576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories during the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC raised its position in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $34,000. Highline Wealth Partners LLC bought a new stake in Abbott Laboratories in the third quarter worth approximately $37,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABT has been the subject of a number of recent research reports. UBS Group upped their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Sanford C. Bernstein boosted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 21st. Finally, Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Insiders Place Their Bets

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s 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 sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.1 %

Shares of ABT opened at $131.48 on Wednesday. The stock’s 50-day moving average price is $117.75 and its 200 day moving average price is $115.42. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $132.50. The firm has a market capitalization of $228.04 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 2.39 and a beta of 0.75.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.19 earnings per share. As a group, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm 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. 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 1.80%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 30.85%.

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.