Abbott Laboratories (NYSE:ABT) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,101 shares of the healthcare product maker’s stock after buying an additional 142 shares during the period. Tectonic Advisors LLC’s holdings in Abbott Laboratories were worth $1,934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nvwm LLC raised its holdings in shares of Abbott Laboratories by 0.9% during the fourth quarter. Nvwm LLC now owns 13,884 shares of the healthcare product maker’s stock worth $1,570,000 after purchasing an additional 125 shares during the last quarter. Money Concepts Capital Corp raised its holdings in shares of Abbott Laboratories by 2.6% during the fourth quarter. Money Concepts Capital Corp now owns 12,371 shares of the healthcare product maker’s stock worth $1,399,000 after purchasing an additional 315 shares during the last quarter. Confluence Wealth Services Inc. raised its holdings in shares of Abbott Laboratories by 80.3% during the fourth quarter. Confluence Wealth Services Inc. now owns 26,881 shares of the healthcare product maker’s stock worth $3,312,000 after purchasing an additional 11,972 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Abbott Laboratories by 26.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 234,547 shares of the healthcare product maker’s stock worth $25,175,000 after purchasing an additional 49,586 shares during the last quarter. Finally, Weaver Capital Management LLC raised its holdings in shares of Abbott Laboratories by 20.2% during the fourth quarter. Weaver Capital Management LLC now owns 8,310 shares of the healthcare product maker’s stock worth $940,000 after purchasing an additional 1,394 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction on 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 sale, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. The trade was 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 available through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Performance

ABT opened at $129.18 on Wednesday. The firm has a market capitalization of $224.06 billion, a PE ratio of 16.89, a PEG ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $129.85. The firm’s 50-day moving average price is $116.80 and its 200 day moving average price is $114.71. 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 (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.19 earnings per share. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS 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. Investors of record on Wednesday, January 15th will be given a dividend of $0.59 per share. 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. This represents a $2.36 dividend on an annualized basis and a yield of 1.83%. Abbott Laboratories’s payout ratio is presently 30.85%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ABT. Oppenheimer began coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Piper Sandler lifted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Sanford C. Bernstein lifted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.