Abbott Laboratories (NYSE:ABT) Stock Holdings Increased by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 810,456 shares of the healthcare product maker’s stock after purchasing an additional 10,098 shares during the quarter. Abbott Laboratories accounts for about 1.7% of Beck Mack & Oliver LLC’s portfolio, making the stock its 23rd largest holding. Beck Mack & Oliver LLC’s holdings in Abbott Laboratories were worth $91,671,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ABT. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter worth $25,000. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories during the 4th quarter valued at $26,000. NewSquare Capital LLC boosted its position in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares during the period. WealthTrak Capital Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the fourth quarter valued at $29,000. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America lifted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Piper Sandler reissued an “overweight” rating and set a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday. Wells Fargo & Company lifted their price target on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI raised their price objective on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley boosted their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Stock Up 1.0 %

ABT opened at $131.00 on Friday. The business has a 50 day moving average of $130.62 and a 200-day moving average of $121.84. The stock has a market capitalization of $227.20 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. Abbott Laboratories’s payout ratio is 30.85%.

Insider Buying and Selling

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the sale, the executive vice president now owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was 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 directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 over the last ninety days. 0.46% of the stock is owned by company insiders.

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.