Avior Wealth Management LLC Raises Holdings in Abbott Laboratories (NYSE:ABT)

Avior Wealth Management LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,093 shares of the healthcare product maker’s stock after buying an additional 4,393 shares during the period. Avior Wealth Management LLC’s holdings in Abbott Laboratories were worth $5,327,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. True North Advisors LLC increased its position in Abbott Laboratories by 265.7% during the 4th quarter. True North Advisors LLC now owns 29,062 shares of the healthcare product maker’s stock valued at $3,287,000 after purchasing an additional 21,115 shares during the period. Paradiem LLC purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $6,231,000. Kelleher Financial Advisors raised its stake in Abbott Laboratories by 2.6% in the fourth quarter. Kelleher Financial Advisors now owns 4,521 shares of the healthcare product maker’s stock worth $511,000 after buying an additional 113 shares in the last quarter. Magnus Financial Group LLC boosted its position in Abbott Laboratories by 4.4% during the 4th quarter. Magnus Financial Group LLC now owns 4,033 shares of the healthcare product maker’s stock valued at $456,000 after acquiring an additional 171 shares in the last quarter. Finally, Investment Advisory Group LLC increased its holdings in shares of Abbott Laboratories by 9.0% in the 4th quarter. Investment Advisory Group LLC now owns 3,314 shares of the healthcare product maker’s stock valued at $375,000 after acquiring an additional 274 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABT has been the topic of several analyst reports. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Evercore ISI raised their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. UBS Group upped their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Mizuho upped their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $131.93.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $117.76 on Thursday. The company’s fifty day moving average price is $114.91 and its 200 day moving average price is $113.08. The company has a market capitalization of $204.25 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.50 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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 company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11,029,400 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. On average, research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.00%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 71.73%.

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.