Abbott Laboratories (NYSE:ABT) Stock Position Raised by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,065 shares of the healthcare product maker’s stock after purchasing an additional 120 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Groupama Asset Managment boosted its holdings in shares of Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories in the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC raised its stake 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. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ABT. Sanford C. Bernstein upped their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. UBS Group increased their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Mizuho upped their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $132.50.

Abbott Laboratories Stock Up 4.6 %

Shares of Abbott Laboratories stock opened at $123.17 on Friday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $123.23. The stock has a market capitalization of $213.62 billion, a P/E ratio of 37.44, a PEG ratio of 2.50 and a beta of 0.73. 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 50 day moving average price of $114.91 and a two-hundred day moving average price of $113.08.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. During the same quarter last year, the firm earned $1.19 EPS. Abbott Laboratories’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.92%. Abbott Laboratories’s dividend payout ratio is 30.85%.

Abbott Laboratories 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.