Abbott Laboratories (NYSE:ABT) Shares Acquired by Magnus Financial Group LLC

Magnus Financial Group LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 4.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,033 shares of the healthcare product maker’s stock after buying an additional 171 shares during the quarter. Magnus Financial Group LLC’s holdings in Abbott Laboratories were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ABT. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the third quarter worth $31,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories in the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 78.4% in 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 during the period. Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories during the third quarter worth about $37,000. Finally, JDM Financial Group LLC lifted its holdings in Abbott Laboratories by 51.3% in the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Barclays increased their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein raised their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group increased their price objective 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. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Finally, Mizuho raised their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $131.93.

Abbott Laboratories Stock Up 0.8 %

Shares of ABT stock opened at $117.76 on Thursday. 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 stock has a market cap of $204.25 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.43 and a beta of 0.73. The business’s fifty day moving average is $114.87 and its 200-day moving average is $113.04. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11,029,400 billion. During the same period in the previous year, the business earned $1.19 earnings per share. Abbott Laboratories’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.00%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 71.73%.

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.