Abbott Laboratories (NYSE:ABT) Stock Holdings Increased by Iron Horse Wealth Management LLC

Iron Horse Wealth Management LLC grew its position in Abbott Laboratories (NYSE:ABT) by 150.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,128 shares of the healthcare product maker’s stock after acquiring an additional 678 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Abbott Laboratories were worth $128,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Insight Folios Inc raised its holdings in shares of Abbott Laboratories by 3.3% during the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after purchasing an additional 87 shares during the period. Sfmg LLC raised its stake in Abbott Laboratories by 1.9% during the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after acquiring an additional 88 shares during the period. River Street Advisors LLC lifted its holdings in Abbott Laboratories by 1.2% in the fourth quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock worth $834,000 after acquiring an additional 88 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after purchasing an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners raised its position in shares of Abbott Laboratories by 8.7% during the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after purchasing an additional 89 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABT. Raymond James restated a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Piper Sandler increased their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. 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. UBS Group lifted their price target on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Mizuho increased their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Insider Activity

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $128.20 on Friday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $132.50. 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 company’s 50-day moving average price is $117.06 and its two-hundred day moving average price is $114.83. The stock has a market cap of $222.36 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last released its 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 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 business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 earnings per share. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

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

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.