Capital Market Strategies LLC Buys 200 Shares of Abbott Laboratories (NYSE:ABT)

Capital Market Strategies LLC grew its position in Abbott Laboratories (NYSE:ABT) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,985 shares of the healthcare product maker’s stock after purchasing an additional 200 shares during the quarter. Capital Market Strategies LLC’s holdings in Abbott Laboratories were worth $677,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment increased its holdings in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the third quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the 2nd quarter valued at approximately $32,000. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories during the 3rd quarter worth about $32,000. Finally, Valued Wealth Advisors LLC increased its position in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT traded up $0.06 on Monday, hitting $113.89. The company’s stock had a trading volume of 1,704,910 shares, compared to its average volume of 3,213,906. 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 firm has a market cap of $197.54 billion, a P/E ratio of 34.62, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The company’s 50 day simple moving average is $115.47 and its 200-day simple moving average is $112.27.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. Analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared 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 a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.07%. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Oppenheimer started coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Mizuho upped their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price 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.