Yousif Capital Management LLC Cuts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Yousif Capital Management LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,943 shares of the healthcare product maker’s stock after selling 8,745 shares during the quarter. Yousif Capital Management LLC’s holdings in Abbott Laboratories were worth $30,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the third quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories in the third quarter worth approximately $32,000. Valued Wealth Advisors LLC boosted 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 worth $33,000 after buying an additional 127 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in Abbott Laboratories in the third quarter worth approximately $37,000. Finally, JDM Financial Group LLC boosted its stake in 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 buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.6 %

ABT opened at $129.18 on Wednesday. The stock has a market capitalization of $224.06 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a one year low of $99.71 and a one year high of $129.85. The business’s 50-day simple moving average is $116.58 and its 200-day simple moving average is $114.52. 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 announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting 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 quarter in the prior year, the firm earned $1.19 EPS. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated 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 transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stifel Nicolaus increased their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Piper Sandler increased their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Oppenheimer began coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Barclays reaffirmed an “overweight” rating and set a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

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.