Abbott Laboratories (NYSE:ABT) Stake Lifted by Hixon Zuercher LLC

Hixon Zuercher LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,068 shares of the healthcare product maker’s stock after acquiring an additional 427 shares during the quarter. Hixon Zuercher LLC’s holdings in Abbott Laboratories were worth $2,609,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories in the third quarter worth about $32,000. Valued Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories during the third quarter valued at approximately $37,000. Finally, JDM Financial Group LLC grew its position in Abbott Laboratories by 51.3% in the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after buying an additional 123 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $128.75 on Friday. 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 cap of $223.32 billion, a P/E ratio of 16.83, a PEG ratio of 2.51 and a beta of 0.73. The company has a fifty day moving average price of $115.94 and a 200 day moving average price of $113.90. Abbott Laboratories has a one year low of $99.71 and a one year high of $129.85.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 EPS. Analysts anticipate that Abbott Laboratories will post 5.15 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm 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 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 1.83%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 30.85%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. 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 research report on Thursday, October 17th. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI increased their price objective on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Raymond James reaffirmed a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.