Onyx Bridge Wealth Group LLC Reduces Stock Position in Abbott Laboratories (NYSE:ABT)

Onyx Bridge Wealth Group LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,162 shares of the healthcare product maker’s stock after selling 143 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Abbott Laboratories were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its holdings in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the 3rd quarter valued at about $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories in the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC grew its holdings in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares during the period. Finally, Highline Wealth Partners LLC purchased a new stake in Abbott Laboratories in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ABT. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Jefferies Financial Group boosted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. StockNews.com upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Evercore ISI boosted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Finally, Piper Sandler boosted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Stock Performance

ABT stock opened at $128.20 on Friday. 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 has a market cap of $222.36 billion, a P/E ratio of 16.76, a P/E/G ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $132.50. The stock’s 50 day simple moving average is $117.06 and its 200 day simple moving average is $114.83.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The company 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. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.