Legacy Wealth Management LLC MS Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Legacy Wealth Management LLC MS grew its position in shares of Abbott Laboratories (NYSE:ABT) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,015 shares of the healthcare product maker’s stock after purchasing an additional 186 shares during the period. Abbott Laboratories accounts for about 1.1% of Legacy Wealth Management LLC MS’s investment portfolio, making the stock its 25th largest position. Legacy Wealth Management LLC MS’s holdings in Abbott Laboratories were worth $2,966,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Groupama Asset Managment raised its holdings in Abbott Laboratories by 22.2% in the third 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. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the second quarter worth $28,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the third quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories during the second quarter worth $32,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories in the third quarter worth $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

ABT stock traded down $0.42 during trading on Friday, hitting $113.44. The company had a trading volume of 774,132 shares, compared to its average volume of 5,602,645. The firm has a market capitalization of $196.76 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 2.69 and a beta of 0.73. The business has a 50 day moving average of $116.25 and a 200 day moving average of $111.06. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.94%. Abbott Laboratories’s payout ratio is presently 66.87%.

Analyst Ratings Changes

ABT has been the subject of a number of research analyst reports. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, UBS Group boosted their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

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.