Ingalls & Snyder LLC Has $28.60 Million Holdings in Abbott Laboratories (NYSE:ABT)

Ingalls & Snyder LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 2.5% in the fourth quarter, Holdings Channel reports. The firm owned 252,851 shares of the healthcare product maker’s stock after purchasing an additional 6,221 shares during the quarter. Abbott Laboratories accounts for about 1.1% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 18th largest position. Ingalls & Snyder LLC’s holdings in Abbott Laboratories were worth $28,600,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABT. Exchange Traded Concepts LLC raised its stake in Abbott Laboratories by 13.2% in the third quarter. Exchange Traded Concepts LLC now owns 16,975 shares of the healthcare product maker’s stock valued at $1,935,000 after purchasing an additional 1,985 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after acquiring an additional 89 shares in the last quarter. Creative Planning raised its stake in Abbott Laboratories by 6.7% during the third quarter. Creative Planning now owns 808,863 shares of the healthcare product maker’s stock worth $91,400,000 after acquiring an additional 50,592 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC acquired a new position in Abbott Laboratories during the third quarter worth about $204,000. Finally, Occidental Asset Management LLC acquired a new position in Abbott Laboratories during the third quarter worth about $219,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ABT. Mizuho boosted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Piper Sandler boosted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley boosted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein upped their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $130.48 on Thursday. The business’s 50 day simple moving average is $118.05 and its 200 day simple moving average is $115.60. Abbott Laboratories has a one year low of $99.71 and a one year high of $132.50. The stock has a market capitalization of $226.31 billion, a PE ratio of 17.06, a PEG ratio of 2.39 and a beta of 0.75. 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 (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.81%. 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.