Abbott Laboratories (NYSE:ABT) Shares Sold by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. reduced its holdings in Abbott Laboratories (NYSE:ABT) by 2.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,541 shares of the healthcare product maker’s stock after selling 365 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Abbott Laboratories were worth $1,758,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Groupama Asset Managment lifted its position in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories in the 2nd quarter worth about $32,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories in the 3rd quarter worth about $32,000. Finally, Valued Wealth Advisors LLC lifted its position 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 worth $33,000 after buying an additional 127 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Morgan Stanley lifted their price objective 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. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, Evercore ISI boosted their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Price Performance

Shares of ABT traded up $0.61 during mid-day trading on Monday, hitting $112.92. The company’s stock had a trading volume of 2,234,616 shares, compared to its average volume of 4,431,758. The firm has a 50-day moving average price of $115.33 and a 200 day moving average price of $112.54. The stock has a market capitalization of $195.85 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 2.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) 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 net margin of 13.99% and a return on equity of 20.18%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. On average, research analysts predict that Abbott Laboratories will post 4.67 EPS 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 given a $0.59 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 71.73%.

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.