Regent Peak Wealth Advisors LLC Acquires 97 Shares of Abbott Laboratories (NYSE:ABT)

Regent Peak Wealth Advisors LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,873 shares of the healthcare product maker’s stock after buying an additional 97 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $551,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Lantz Financial LLC boosted its holdings in shares of Abbott Laboratories by 5.2% during the 2nd quarter. Lantz Financial LLC now owns 5,737 shares of the healthcare product maker’s stock worth $596,000 after buying an additional 281 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Abbott Laboratories in the second quarter valued at approximately $116,000. Acadian Asset Management LLC lifted its holdings in Abbott Laboratories by 510.6% during the 2nd quarter. Acadian Asset Management LLC now owns 319,169 shares of the healthcare product maker’s stock worth $33,156,000 after purchasing an additional 266,899 shares during the last quarter. Arbor Capital Management Inc. ADV bought a new stake in Abbott Laboratories in the 2nd quarter valued at $2,743,000. Finally, Quest Partners LLC grew its holdings in Abbott Laboratories by 482.2% in the 2nd quarter. Quest Partners LLC now owns 18,094 shares of the healthcare product maker’s stock valued at $1,880,000 after buying an additional 14,986 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABT. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Barclays boosted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. 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 research report on Thursday, October 17th. Finally, Piper Sandler Companies initiated coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.57.

Abbott Laboratories Price Performance

Shares of ABT stock traded up $0.93 on Tuesday, reaching $113.97. The company had a trading volume of 2,385,787 shares, compared to its average volume of 4,094,731. The business’s 50-day moving average is $115.44 and its 200 day moving average is $112.31. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. 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 $197.68 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. Equities research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.07%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

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.