Money Concepts Capital Corp Purchases 315 Shares of Abbott Laboratories (NYSE:ABT)

Money Concepts Capital Corp grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,371 shares of the healthcare product maker’s stock after buying an additional 315 shares during the period. Money Concepts Capital Corp’s holdings in Abbott Laboratories were worth $1,399,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the third quarter worth about $31,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories during the 3rd quarter valued at approximately $32,000. Valued Wealth Advisors LLC raised 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 valued at $33,000 after buying an additional 127 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories in the third quarter worth $37,000. Finally, JDM Financial Group LLC increased its holdings in shares of Abbott Laboratories by 51.3% during the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after acquiring an additional 123 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $132.07 on Thursday. The company has a 50 day moving average price of $116.80 and a 200 day moving average price of $114.71. The firm has a market capitalization of $229.06 billion, a P/E ratio of 17.26, a PEG ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $132.50. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter last year, the company earned $1.19 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that Abbott Laboratories will post 5.14 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. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABT. Piper Sandler increased their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein raised their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Morgan Stanley lifted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.