Abbott Laboratories (NYSE:ABT) Shares Purchased by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,102 shares of the healthcare product maker’s stock after purchasing an additional 98 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,595,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories during the 3rd quarter valued at approximately $31,000. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories during the third quarter worth $32,000. Valued Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $32,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth about $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.2 %

Shares of Abbott Laboratories stock opened at $112.97 on Wednesday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a market capitalization of $195.94 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.69 and a beta of 0.73. The stock has a 50 day moving average of $115.14 and a 200 day moving average of $112.67.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the company earned $1.14 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts predict that Abbott Laboratories will post 4.67 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. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.09%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 71.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ABT shares. UBS Group boosted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories 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.