Abbott Laboratories (NYSE:ABT) Shares Sold by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC cut its position in Abbott Laboratories (NYSE:ABT) by 34.2% during the fourth quarter, Holdings Channel reports. The firm owned 2,088 shares of the healthcare product maker’s stock after selling 1,084 shares during the period. Revolve Wealth Partners LLC’s holdings in Abbott Laboratories were worth $236,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its stake in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after acquiring an additional 2,711,586 shares during the period. State Street Corp raised its holdings in shares of 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 purchasing an additional 2,323,807 shares during the last quarter. International Assets Investment Management LLC lifted its position in Abbott Laboratories by 13,194.9% during the third 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 purchasing an additional 1,667,170 shares during the period. Sessa Capital IM L.P. boosted its holdings in Abbott Laboratories by 47.1% in the third quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock valued at $427,481,000 after purchasing an additional 1,200,409 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Abbott Laboratories by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock worth $1,144,818,000 after purchasing an additional 1,180,040 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $127.28 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. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $129.85. The firm has a market capitalization of $220.76 billion, a PE ratio of 16.64, a P/E/G ratio of 2.51 and a beta of 0.73. The business’s 50 day moving average price is $115.50 and its 200-day moving average price is $113.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 5.15 earnings per share 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. Shareholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.85%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABT. Mizuho boosted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. UBS Group raised their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. 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. Finally, Piper Sandler lifted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.06.

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.