Lighthouse Wealth Management Inc. Buys Shares of 13,630 Abbott Laboratories (NYSE:ABT)

Lighthouse Wealth Management Inc. purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 13,630 shares of the healthcare product maker’s stock, valued at approximately $1,542,000. Abbott Laboratories comprises approximately 1.4% of Lighthouse Wealth Management Inc.’s holdings, making the stock its 13th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the third quarter worth about $31,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories in the 3rd quarter valued at approximately $32,000. Valued Wealth Advisors LLC lifted its holdings in 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 during the last quarter. Highline Wealth Partners LLC acquired a new position in Abbott Laboratories during the third quarter valued at approximately $37,000. Finally, JDM Financial Group LLC raised its position in shares of Abbott Laboratories by 51.3% in the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Oppenheimer started 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 on the stock. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Wells Fargo & Company raised their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday. Stifel Nicolaus upped their price target on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Piper Sandler raised their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.06.

Abbott Laboratories Stock Up 1.5 %

Shares of ABT opened at $125.12 on Monday. 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 moving average price of $115.26 and a two-hundred day moving average price of $113.46. The stock has a market cap of $217.01 billion, a price-to-earnings ratio of 16.36, a P/E/G 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.

Abbott Laboratories (NYSE:ABT) last announced 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. 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 analyst estimates of $11,029,400 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post 5.15 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. 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. Abbott Laboratories’s dividend payout ratio (DPR) 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.