TruWealth Advisors LLC Has $14.15 Million Stock Position in Abbott Laboratories (NYSE:ABT)

TruWealth Advisors LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,094 shares of the healthcare product maker’s stock after acquiring an additional 1,572 shares during the period. TruWealth Advisors LLC’s holdings in Abbott Laboratories were worth $14,149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. HB Wealth Management LLC lifted its holdings in shares of Abbott Laboratories by 14.4% during the 4th quarter. HB Wealth Management LLC now owns 113,306 shares of the healthcare product maker’s stock valued at $12,816,000 after purchasing an additional 14,259 shares in the last quarter. Financial & Tax Architects LLC lifted its stake in Abbott Laboratories by 5.1% in the fourth quarter. Financial & Tax Architects LLC now owns 59,069 shares of the healthcare product maker’s stock valued at $6,681,000 after buying an additional 2,860 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in shares of Abbott Laboratories by 8.5% in the fourth quarter. Premier Path Wealth Partners LLC now owns 7,204 shares of the healthcare product maker’s stock valued at $815,000 after buying an additional 564 shares during the period. Sanibel Captiva Trust Company Inc. increased its position in shares of Abbott Laboratories by 1.0% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 149,203 shares of the healthcare product maker’s stock worth $16,876,000 after acquiring an additional 1,495 shares in the last quarter. Finally, Verity & Verity LLC raised its holdings in shares of Abbott Laboratories by 18.2% during the fourth quarter. Verity & Verity LLC now owns 60,727 shares of the healthcare product maker’s stock worth $6,869,000 after acquiring an additional 9,332 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABT. Sanford C. Bernstein increased their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” 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 report on Monday, October 14th. Oppenheimer began 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. Finally, Barclays raised their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Stock Performance

ABT opened at $113.45 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The business has a 50 day moving average of $114.93 and a 200-day moving average of $112.73. The stock has a market cap 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 (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during 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 company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 earnings per share. On average, equities research analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid 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 2.08%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 66.87%.

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.