Brady Family Wealth LLC Trims Stock Holdings in Abbott Laboratories (NYSE:ABT)

Brady Family Wealth LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,445 shares of the healthcare product maker’s stock after selling 2,687 shares during the period. Abbott Laboratories accounts for 2.1% of Brady Family Wealth LLC’s portfolio, making the stock its 12th biggest holding. Brady Family Wealth LLC’s holdings in Abbott Laboratories were worth $6,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Groupama Asset Managment increased its stake in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the third quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $32,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories during the 3rd quarter valued at approximately $32,000. Finally, 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 in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Down 1.8 %

Shares of ABT opened at $110.96 on Thursday. 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 business has a fifty day moving average of $115.14 and a 200 day moving average of $112.67. The company has a market cap of $192.46 billion, a PE ratio of 33.73, a P/E/G ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.14 EPS. On average, sell-side analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 71.73%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABT. Barclays lifted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Raymond James reissued a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Company 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.