Beaird Harris Wealth Management LLC Sells 171 Shares of Abbott Laboratories (NYSE:ABT)

Beaird Harris Wealth Management LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 19.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 692 shares of the healthcare product maker’s stock after selling 171 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Abbott Laboratories were worth $79,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Franklin Resources Inc. boosted its position in shares of Abbott Laboratories by 13.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock worth $1,144,818,000 after purchasing an additional 1,180,040 shares in the last quarter. Tidal Investments LLC raised its stake in Abbott Laboratories by 30.5% during the third quarter. Tidal Investments LLC now owns 107,308 shares of the healthcare product maker’s stock valued at $12,234,000 after buying an additional 25,052 shares during the last quarter. Destination Wealth Management grew its stake in shares of Abbott Laboratories by 1.5% in the third quarter. Destination Wealth Management now owns 240,821 shares of the healthcare product maker’s stock worth $27,456,000 after acquiring an additional 3,562 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Abbott Laboratories by 32.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 332,189 shares of the healthcare product maker’s stock valued at $37,873,000 after acquiring an additional 81,669 shares in the last quarter. Finally, Sfmg LLC raised its position in shares of Abbott Laboratories by 1.9% in the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT stock opened at $113.39 on Friday. The company has a fifty day simple moving average of $116.27 and a two-hundred day simple moving average of $111.12. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $196.67 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. Analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.08%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Wall Street Analyst Weigh In

ABT has been the subject of a number of analyst reports. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Barclays boosted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Morgan Stanley upped their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $130.71.

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.