Legacy Wealth Management LLC MS Has $2.80 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Legacy Wealth Management LLC MS cut its stake in Abbott Laboratories (NYSE:ABT) by 4.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 24,729 shares of the healthcare product maker’s stock after selling 1,286 shares during the period. Abbott Laboratories accounts for approximately 1.1% of Legacy Wealth Management LLC MS’s investment portfolio, making the stock its 25th biggest holding. Legacy Wealth Management LLC MS’s holdings in Abbott Laboratories were worth $2,797,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the third quarter worth approximately $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories in the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC grew its position 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 worth $33,000 after purchasing an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories during the second quarter worth approximately $32,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the subject of several analyst reports. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler raised their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Mizuho lifted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Stock Down 0.2 %

Abbott Laboratories stock traded down $0.26 during trading on Monday, hitting $113.57. 462,343 shares of the company were exchanged, compared to its average volume of 2,789,296. 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 business’s 50 day moving average is $115.47 and its 200 day moving average is $112.27. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a market capitalization of $196.98 billion, a P/E ratio of 34.52, a PEG ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same period in the prior year, the company posted $1.14 earnings per share. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts predict that Abbott Laboratories will post 4.67 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. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 71.73%.

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.