Salem Investment Counselors Inc. increased its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,643 shares of the healthcare product maker’s stock after buying an additional 1,104 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Abbott Laboratories were worth $9,348,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Insight Folios Inc lifted its position in Abbott Laboratories by 3.3% in the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after acquiring an additional 87 shares in the last quarter. Sfmg LLC lifted its position in Abbott Laboratories by 1.9% in the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after acquiring an additional 88 shares in the last quarter. Boltwood Capital Management lifted its position in Abbott Laboratories by 0.4% in the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after acquiring an additional 89 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in Abbott Laboratories by 2.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after acquiring an additional 89 shares in the last quarter. Finally, Silicon Valley Capital Partners lifted its position in Abbott Laboratories by 8.7% in the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. 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. Evercore ISI lifted their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Finally, Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.57.
Abbott Laboratories Stock Performance
Abbott Laboratories stock traded up $0.50 during mid-day trading on Monday, reaching $112.81. The company’s stock had a trading volume of 1,640,948 shares, compared to its average volume of 4,350,071. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The company has a market capitalization of $195.66 billion, a P/E ratio of 34.29, a PEG ratio of 2.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm’s fifty day moving average price is $115.33 and its two-hundred day moving average price is $112.54.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 EPS. Sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.
Abbott Laboratories Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 71.73%.
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.
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