Daymark Wealth Partners LLC Sells 716 Shares of Abbott Laboratories (NYSE:ABT)

Daymark Wealth Partners LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,307 shares of the healthcare product maker’s stock after selling 716 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Abbott Laboratories were worth $5,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories during the third quarter valued at about $31,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC lifted 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 valued at $33,000 after buying an additional 127 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of Abbott Laboratories in the third quarter worth $37,000. Finally, JDM Financial Group LLC lifted its holdings in Abbott Laboratories by 51.3% during the 3rd quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after purchasing an additional 123 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Up 2.9 %

NYSE:ABT opened at $116.78 on Wednesday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a 50 day simple moving average of $114.87 and a two-hundred day simple moving average of $113.04. 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 company has a market cap of $202.55 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 2.43 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11,029,400 billion. During the same period in the prior year, the company earned $1.19 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Research analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 2.02%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABT. UBS Group upped their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Piper Sandler raised their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Sanford C. Bernstein upped their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Raymond James reaffirmed a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Evercore ISI increased their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $131.93.

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.