Empowered Funds LLC Has $5.48 Million Position in Abbott Laboratories (NYSE:ABT)

Empowered Funds LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,458 shares of the healthcare product maker’s stock after selling 3,913 shares during the period. Empowered Funds LLC’s holdings in Abbott Laboratories were worth $5,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Welch Group LLC raised its holdings in Abbott Laboratories by 5.3% during the fourth quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock valued at $7,744,000 after buying an additional 3,479 shares in the last quarter. Bath Savings Trust Co raised its stake in shares of Abbott Laboratories by 3.7% in the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after acquiring an additional 5,881 shares in the last quarter. Simplify Asset Management Inc. boosted its position in Abbott Laboratories by 67.3% during the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after purchasing an additional 5,664 shares during the period. Pensionfund Sabic acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $2,828,000. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after buying an additional 31,720 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.1 %

Shares of ABT opened at $131.48 on Wednesday. The stock has a 50 day simple moving average of $117.75 and a 200-day simple moving average of $115.42. 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 stock has a market cap of $228.04 billion, a PE ratio of 17.19, a PEG ratio of 2.39 and a beta of 0.75. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.50.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS 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. Stockholders of record on Wednesday, January 15th will be issued 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 1.80%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 30.85%.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Stifel Nicolaus raised their target price on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Piper Sandler upped their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein raised their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.06.

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.