Heritage Financial Services LLC Sells 702 Shares of Abbott Laboratories (NYSE:ABT)

Heritage Financial Services LLC decreased its position in Abbott Laboratories (NYSE:ABTFree Report) by 15.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,826 shares of the healthcare product maker’s stock after selling 702 shares during the period. Heritage Financial Services LLC’s holdings in Abbott Laboratories were worth $433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at about $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the 3rd quarter valued at about $32,000. 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 buying an additional 127 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $37,000. Finally, JDM Financial Group LLC increased its stake in shares of Abbott Laboratories by 51.3% during the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after buying an additional 123 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

ABT opened at $128.75 on Friday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $129.85. The stock has a 50-day moving average price of $115.94 and a 200-day moving average price of $113.90. The firm has a market cap of $223.32 billion, a PE ratio of 16.83, a P/E/G ratio of 2.51 and a beta of 0.73. 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:ABTGet Free Report) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Sell-side analysts predict that Abbott Laboratories will post 5.15 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is an increase 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 1.83%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday. Finally, Mizuho raised their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.06.

Check Out Our Latest Analysis on ABT

About Abbott Laboratories

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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