Chemistry Wealth Management LLC Makes New $267,000 Investment in Abbott Laboratories (NYSE:ABT)

Chemistry Wealth Management LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,363 shares of the healthcare product maker’s stock, valued at approximately $267,000.

Several other institutional investors have also recently bought and sold shares of the business. Relyea Zuckerberg Hanson LLC raised its stake in Abbott Laboratories by 173.0% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 23,609 shares of the healthcare product maker’s stock worth $2,670,000 after acquiring an additional 14,960 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $20,636,000. Everpar Advisors LLC increased its stake in shares of Abbott Laboratories by 4.7% in the fourth quarter. Everpar Advisors LLC now owns 2,957 shares of the healthcare product maker’s stock valued at $334,000 after buying an additional 134 shares during the period. Tompkins Financial Corp increased its stake in shares of Abbott Laboratories by 2.4% in the fourth quarter. Tompkins Financial Corp now owns 104,215 shares of the healthcare product maker’s stock valued at $11,788,000 after buying an additional 2,410 shares during the period. Finally, Woodstock Corp increased its stake in shares of Abbott Laboratories by 0.7% in the fourth quarter. Woodstock Corp now owns 132,469 shares of the healthcare product maker’s stock valued at $14,984,000 after buying an additional 940 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $113.45 on Friday. The stock has a market capitalization of $196.78 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The stock’s 50 day moving average price is $115.00 and its two-hundred day moving average price is $112.66. 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 issued its earnings results 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 company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same period last year, the business earned $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The company 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 $0.59 dividend. 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 dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABT. Mizuho upped their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Jefferies Financial Group upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Evercore ISI increased their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Finally, UBS Group increased their target price 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average 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.