Salvus Wealth Management LLC Boosts Position in Abbott Laboratories (NYSE:ABT)

Salvus Wealth Management LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 2.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,047 shares of the healthcare product maker’s stock after acquiring an additional 134 shares during the quarter. Salvus Wealth Management LLC’s holdings in Abbott Laboratories were worth $571,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Insight Folios Inc increased its holdings in shares of Abbott Laboratories by 3.3% during the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after buying an additional 87 shares during the last quarter. Sfmg LLC increased its stake in Abbott Laboratories by 1.9% during the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after acquiring an additional 88 shares during the last quarter. Boltwood Capital Management raised its position in Abbott Laboratories by 0.4% in the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after purchasing an additional 89 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Abbott Laboratories by 2.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after purchasing an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its holdings in shares of Abbott Laboratories by 8.7% during the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after purchasing an additional 89 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on ABT shares. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Jefferies Financial Group increased 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. Mizuho boosted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Sanford C. Bernstein raised their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Evercore ISI boosted their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Price Performance

Shares of ABT opened at $113.85 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $197.47 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.40 and a beta of 0.73. The firm’s fifty day simple moving average is $115.02 and its 200-day simple moving average is $112.65.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 earnings per share. Equities analysts forecast that Abbott Laboratories will post 4.67 EPS 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. Investors of record on Wednesday, January 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

Abbott Laboratories Company 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.