Genesis Private Wealth LLC Takes Position in Abbott Laboratories (NYSE:ABT)

Genesis Private Wealth LLC bought a new position in Abbott Laboratories (NYSE:ABTFree Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,456 shares of the healthcare product maker’s stock, valued at approximately $278,000.

Other large investors have also recently bought and sold shares of the company. Simon Quick Advisors LLC boosted its stake in Abbott Laboratories by 104.5% during the fourth quarter. Simon Quick Advisors LLC now owns 20,055 shares of the healthcare product maker’s stock valued at $2,268,000 after buying an additional 10,248 shares during the period. Red Spruce Capital LLC boosted its position in shares of Abbott Laboratories by 4.0% during the 4th quarter. Red Spruce Capital LLC now owns 34,632 shares of the healthcare product maker’s stock valued at $3,917,000 after acquiring an additional 1,339 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of Abbott Laboratories by 2.5% during the fourth quarter. MCF Advisors LLC now owns 4,186 shares of the healthcare product maker’s stock worth $473,000 after purchasing an additional 102 shares in the last quarter. Tide Cove Capital Partners LLC purchased a new stake in Abbott Laboratories in the fourth quarter valued at approximately $918,000. Finally, Verum Partners LLC lifted its position in Abbott Laboratories by 10.1% during the fourth quarter. Verum Partners LLC now owns 2,155 shares of the healthcare product maker’s stock valued at $244,000 after purchasing an additional 198 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $116.78 on Wednesday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The firm has a market cap of $202.55 billion, a P/E ratio of 35.50, a P/E/G ratio of 2.43 and a beta of 0.73. 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 firm has a 50-day moving average of $114.87 and a 200-day moving average of $112.95.

Abbott Laboratories Increases Dividend

The firm also recently declared 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. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. 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 2.02%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 71.73%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. UBS Group lifted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Morgan Stanley upped 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, Evercore ISI lifted their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.93.

Read Our Latest Stock Report on ABT

Abbott Laboratories Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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