One Wealth Capital Management LLC Buys Shares of 7,602 Abbott Laboratories (NYSE:ABT)

One Wealth Capital Management LLC purchased a new position in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,602 shares of the healthcare product maker’s stock, valued at approximately $860,000.

Several other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in Abbott Laboratories by 25.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after buying an additional 2,711,586 shares during the last quarter. Sessa Capital IM L.P. bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $264,876,000. State Street Corp boosted its stake in Abbott Laboratories by 3.1% during the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares in the last quarter. International Assets Investment Management LLC increased its stake in Abbott Laboratories by 13,194.9% in the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after purchasing an additional 1,667,170 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Abbott Laboratories by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after purchasing an additional 1,596,835 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT traded up $0.30 during trading hours on Tuesday, reaching $113.34. 3,475,594 shares of the company were exchanged, compared to its average volume of 4,298,638. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $196.58 billion, a P/E ratio of 34.45, a P/E/G ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The business’s 50 day simple moving average is $115.44 and its 200-day simple moving average is $112.31.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results 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. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. 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 company also recently disclosed 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. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend 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 (DPR) is 71.73%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley increased their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Evercore ISI raised their price objective on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. UBS Group raised their price target 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. Finally, Royal Bank of Canada boosted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $131.57.

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.