Abbott Laboratories (NYSE:ABT) Shares Bought by Goldstone Financial Group LLC

Goldstone Financial Group LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,947 shares of the healthcare product maker’s stock after purchasing an additional 99 shares during the quarter. Goldstone Financial Group LLC’s holdings in Abbott Laboratories were worth $1,125,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Groupama Asset Managment boosted its stake in Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the third quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories in the 2nd quarter valued at about $32,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories in the 3rd quarter worth approximately $32,000. Finally, 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 in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 2.5 %

Shares of ABT stock opened at $113.85 on Friday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The company has a 50 day moving average price of $115.02 and a 200 day moving average price of $112.65. The stock has a market capitalization of $197.47 billion, a P/E ratio of 34.60, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. Equities research analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal 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 given a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.07%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Mizuho boosted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. UBS Group boosted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

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.