Abbott Laboratories (NYSE:ABT) Stock Position Raised by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. increased its position in Abbott Laboratories (NYSE:ABT) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,856 shares of the healthcare product maker’s stock after buying an additional 2,459 shares during the period. Abbott Laboratories accounts for 1.3% of TCV Trust & Wealth Management Inc.’s portfolio, making the stock its 28th largest holding. TCV Trust & Wealth Management Inc.’s holdings in Abbott Laboratories were worth $13,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Groupama Asset Managment raised its stake in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 41,557 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories during the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter worth $34,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter worth $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.1 %

NYSE:ABT opened at $131.48 on Wednesday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $132.50. The firm’s fifty day moving average is $117.75 and its 200-day moving average is $115.42. The firm has a market cap of $228.04 billion, a P/E ratio of 17.19, a P/E/G ratio of 2.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same period in the prior year, the business earned $1.19 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.80%. 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 30.85%.

Insiders Place Their Bets

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The shares were 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 owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ABT. Piper Sandler increased their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Jefferies Financial Group increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. UBS Group increased their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Mizuho lifted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

About Abbott Laboratories

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.