Tyche Wealth Partners LLC Has $1.88 Million Position in Abbott Laboratories (NYSE:ABT)

Tyche Wealth Partners LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 61.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,629 shares of the healthcare product maker’s stock after purchasing an additional 6,305 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Abbott Laboratories were worth $1,881,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories in the third quarter valued at approximately $31,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC lifted its stake in 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 buying an additional 127 shares in the last quarter. Highline Wealth Partners LLC bought a new position in Abbott Laboratories in the third quarter valued at approximately $37,000. Finally, JDM Financial Group LLC lifted its position in shares of Abbott Laboratories by 51.3% in the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABT. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Barclays reaffirmed an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Raymond James reaffirmed a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Mizuho upped their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Abbott Laboratories Trading Up 2.3 %

Shares of Abbott Laboratories stock opened at $132.07 on Thursday. The company has a market capitalization of $229.06 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.39 and a beta of 0.74. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $132.50. The firm’s 50-day moving average price is $116.80 and its two-hundred day moving average price is $114.71.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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. 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 for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. On average, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 30.85%.

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories 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.