Thomas Story & Son LLC Has $7.42 Million Holdings in Abbott Laboratories (NYSE:ABT)

Thomas Story & Son LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,589 shares of the healthcare product maker’s stock after selling 955 shares during the quarter. Abbott Laboratories makes up about 3.1% of Thomas Story & Son LLC’s portfolio, making the stock its 14th largest position. Thomas Story & Son LLC’s holdings in Abbott Laboratories were worth $7,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Perfromance Wealth Partners LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at about $298,000. Silverlake Wealth Management LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at about $219,000. Annex Advisory Services LLC lifted its position in shares of Abbott Laboratories by 4.9% during the third quarter. Annex Advisory Services LLC now owns 69,851 shares of the healthcare product maker’s stock valued at $7,964,000 after purchasing an additional 3,268 shares in the last quarter. Retirement Planning Group LLC lifted its position in shares of Abbott Laboratories by 18.7% during the third quarter. Retirement Planning Group LLC now owns 3,137 shares of the healthcare product maker’s stock valued at $358,000 after purchasing an additional 494 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Abbott Laboratories by 13.2% during the third quarter. Exchange Traded Concepts LLC now owns 16,975 shares of the healthcare product maker’s stock valued at $1,935,000 after purchasing an additional 1,985 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the topic of a number of recent analyst reports. StockNews.com raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Raymond James restated 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. Jefferies Financial Group raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. 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 report on Thursday, October 17th. Finally, Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $133.06.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $129.11 on Monday. The stock has a market cap of $223.93 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.39 and a beta of 0.75. The firm’s 50-day moving average is $117.46 and its 200 day moving average is $115.18. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 in the prior year, the business earned $1.19 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued 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 yield of 1.83%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.