Financial & Tax Architects LLC Acquires 2,860 Shares of Abbott Laboratories (NYSE:ABT)

Financial & Tax Architects LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,069 shares of the healthcare product maker’s stock after purchasing an additional 2,860 shares during the quarter. Abbott Laboratories comprises 1.7% of Financial & Tax Architects LLC’s portfolio, making the stock its 16th biggest holding. Financial & Tax Architects LLC’s holdings in Abbott Laboratories were worth $6,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories during the third quarter worth about $32,000. Valued Wealth Advisors LLC lifted its stake in Abbott Laboratories by 78.4% during the third 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 during the period. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories during the second quarter worth about $32,000. Finally, Highline Wealth Partners LLC bought a new position in Abbott Laboratories during the third quarter worth about $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Mizuho boosted their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Evercore ISI upped their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Barclays boosted their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler upped their target price 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Trading Down 0.4 %

NYSE ABT traded down $0.46 during mid-day trading on Friday, reaching $113.45. 6,443,213 shares of the stock were exchanged, compared to its average volume of 4,199,178. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The stock has a 50 day simple moving average of $115.00 and a 200-day simple moving average of $112.66. The stock has a market cap of $196.78 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. 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 (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. On average, analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. This is a boost 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 66.87%.

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.