Gradient Investments LLC Increases Stake in Abbott Laboratories (NYSE:ABT)

Gradient Investments LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 280,294 shares of the healthcare product maker’s stock after acquiring an additional 3,772 shares during the quarter. Gradient Investments LLC’s holdings in Abbott Laboratories were worth $31,704,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $31,000. Peterson Financial Group Inc. purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth $32,000. Valued Wealth Advisors LLC grew its stake 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 during the period. Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $37,000. Finally, JDM Financial Group LLC boosted its holdings in Abbott Laboratories by 51.3% during the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ABT shares. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Raymond James reiterated a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Morgan Stanley lifted their price target 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. Barclays increased their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, UBS Group lifted their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Abbott Laboratories Trading Up 1.5 %

Shares of Abbott Laboratories stock opened at $125.12 on Friday. The firm has a market cap of $217.01 billion, a PE ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 0.73. 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 fifty-two week low of $99.71 and a fifty-two week high of $125.67. The business’s fifty day moving average is $115.07 and its two-hundred day moving average is $113.15.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. During the same period last year, the company earned $1.19 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post 5.15 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.89%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 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.