Jamison Private Wealth Management Inc. Has $1.82 Million Position in Abbott Laboratories (NYSE:ABT)

Jamison Private Wealth Management Inc. boosted its stake in Abbott Laboratories (NYSE:ABT) by 27.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,084 shares of the healthcare product maker’s stock after buying an additional 3,420 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Abbott Laboratories were worth $1,819,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the third quarter valued at about $31,000. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories in the third quarter worth approximately $32,000. Valued Wealth Advisors LLC raised its position 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 valued at $33,000 after acquiring an additional 127 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories in 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 acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.5 %

Shares of Abbott Laboratories stock opened at $125.12 on Friday. The stock has a market capitalization of $217.01 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $125.67. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $115.26 and a 200 day simple moving average of $113.31.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11,029,400 billion. During the same period in the previous year, the business earned $1.19 EPS. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 dividend yield of 1.89%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent research reports. Mizuho upped their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. UBS Group increased their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus boosted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Finally, Raymond James reaffirmed a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $132.50.

About Abbott Laboratories

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.