298 Shares in Abbott Laboratories (NYSE:ABT) Acquired by Wingate Wealth Advisors Inc.

Wingate Wealth Advisors Inc. bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 298 shares of the healthcare product maker’s stock, valued at approximately $34,000.

A number of other hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its stake in Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. State Street Corp lifted its position in Abbott Laboratories by 3.1% during the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after buying an additional 2,323,807 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Abbott Laboratories by 13,194.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after buying an additional 1,667,170 shares in the last quarter. Sessa Capital IM L.P. increased its stake in shares of Abbott Laboratories by 47.1% in the 3rd quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock worth $427,481,000 after acquiring an additional 1,200,409 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Abbott Laboratories by 22,372.2% during the 4th quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock valued at $135,886,000 after acquiring an additional 1,196,018 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Piper Sandler increased their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Trading Up 0.1 %

ABT opened at $131.48 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market capitalization of $228.04 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 2.39 and a beta of 0.75. The business has a fifty day moving average price of $117.75 and a 200 day moving average price of $115.42. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $132.50.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 30.85%.

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.