SteelPeak Wealth LLC Sells 800 Shares of Abbott Laboratories (NYSE:ABT)

SteelPeak Wealth LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,502 shares of the healthcare product maker’s stock after selling 800 shares during the quarter. SteelPeak Wealth LLC’s holdings in Abbott Laboratories were worth $1,867,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the third quarter valued at about $31,000. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories in the 3rd quarter valued at approximately $32,000. Valued Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $37,000. Finally, JDM Financial Group LLC raised its stake in shares of Abbott Laboratories by 51.3% in the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after purchasing an additional 123 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $127.86 on Thursday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $129.85. 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 firm’s 50 day moving average is $115.71 and its 200-day moving average is $113.80. The firm has a market capitalization of $221.77 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period last year, the company earned $1.19 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts forecast that Abbott Laboratories will post 5.15 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 paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ABT shares. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Mizuho increased their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Raymond James reaffirmed a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Jefferies Financial Group boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.06.

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.