Fiduciary Alliance LLC Purchases 10,632 Shares of Abbott Laboratories (NYSE:ABT)

Fiduciary Alliance LLC raised its position in shares of Abbott Laboratories (NYSE:ABT) by 145.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,936 shares of the healthcare product maker’s stock after buying an additional 10,632 shares during the quarter. Fiduciary Alliance LLC’s holdings in Abbott Laboratories were worth $2,029,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Groupama Asset Managment boosted its stake in Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories in the 2nd quarter worth approximately $32,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories during the 3rd quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC boosted its holdings 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 acquiring an additional 127 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.7 %

ABT opened at $113.12 on Tuesday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The firm’s 50 day simple moving average is $115.23 and its two-hundred day simple moving average is $112.60. 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 company has a market capitalization of $196.20 billion, a PE ratio of 34.38, a PEG ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $0.59 dividend. 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 dividend yield of 2.09%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent analyst reports. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. UBS Group upped their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Raymond James reissued a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Barclays upped their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler boosted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $131.57.

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.