Abbott Laboratories (NYSE:ABT) Shares Bought by Concord Asset Management LLC VA

Concord Asset Management LLC VA lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,944 shares of the healthcare product maker’s stock after purchasing an additional 756 shares during the quarter. Concord Asset Management LLC VA’s holdings in Abbott Laboratories were worth $1,803,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ABT. State Street Corp increased its stake in shares of Abbott Laboratories by 3.1% during the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the period. Geode Capital Management LLC lifted its holdings in Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after acquiring an additional 488,764 shares during the period. Wellington Management Group LLP boosted its position in shares of Abbott Laboratories by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after purchasing an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Abbott Laboratories by 5.6% in the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after purchasing an additional 585,915 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.9 %

Shares of NYSE:ABT opened at $127.69 on Friday. The company has a 50 day moving average of $116.37 and a two-hundred day moving average of $114.17. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $129.85. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $221.47 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 2.38 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the previous year, the business posted $1.19 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, 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 given a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 30.85%.

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction 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 $16,152,064.50. This 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. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Evercore ISI lifted their price objective on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Piper Sandler upped their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Finally, Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday. 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. Based on data from MarketBeat, the stock currently has a consensus 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.