Naples Global Advisors LLC Purchases 635 Shares of Abbott Laboratories (NYSE:ABT)

Naples Global Advisors LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,650 shares of the healthcare product maker’s stock after purchasing an additional 635 shares during the quarter. Naples Global Advisors LLC’s holdings in Abbott Laboratories were worth $3,241,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ABT. Massachusetts Financial Services Co. MA boosted its stake in Abbott Laboratories by 25.6% in the third 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 buying an additional 2,711,586 shares in the last quarter. State Street Corp lifted its holdings in shares of Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Abbott Laboratories by 13,194.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after purchasing an additional 1,667,170 shares during the last quarter. Sessa Capital IM L.P. raised its position in Abbott Laboratories by 47.1% in the 3rd quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock worth $427,481,000 after purchasing an additional 1,200,409 shares during the period. Finally, Jennison Associates LLC lifted its stake in Abbott Laboratories by 22,372.2% in the fourth quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock worth $135,886,000 after purchasing an additional 1,196,018 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction on Thursday, January 30th. The stock was 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 directly owns 125,697 shares of the company’s stock, 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 SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ABT shares. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Mizuho lifted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Piper Sandler lifted their target price 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. Finally, Morgan Stanley increased their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Four investment 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 stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Abbott Laboratories Stock Down 0.7 %

Shares of NYSE:ABT opened at $130.48 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $132.50. The firm has a market capitalization of $226.31 billion, a P/E ratio of 17.06, a P/E/G ratio of 2.39 and a beta of 0.75. The stock has a 50 day moving average price of $118.05 and a 200-day moving average price of $115.60.

Abbott Laboratories (NYSE:ABT) last announced 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. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 earnings per share. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 30.85%.

About Abbott Laboratories

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.