Tanager Wealth Management LLP increased its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 23.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,838 shares of the healthcare product maker’s stock after acquiring an additional 546 shares during the period. Tanager Wealth Management LLP’s holdings in Abbott Laboratories were worth $321,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC increased its holdings 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 worth $33,000 after acquiring an additional 127 shares during the period. Highline Wealth Partners LLC bought a new stake in Abbott Laboratories during the 3rd quarter worth approximately $37,000. Finally, JDM Financial Group LLC increased its holdings in Abbott Laboratories by 51.3% during the 3rd quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after acquiring an additional 123 shares during the period. Institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Trading Up 0.6 %
Shares of ABT opened at $129.18 on Wednesday. The stock has a market capitalization of $224.06 billion, a P/E ratio of 16.89, a PEG ratio of 2.39 and a beta of 0.74. 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 firm has a fifty day simple moving average of $116.58 and a two-hundred day simple moving average of $114.52. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $129.85.
Abbott Laboratories Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Evercore ISI increased their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. StockNews.com raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley increased their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.06.
View Our Latest Stock Report on Abbott Laboratories
Insider Transactions at Abbott Laboratories
In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.
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.
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