Nichols & Pratt Advisers LLP MA Buys 300 Shares of Abbott Laboratories (NYSE:ABT)

Nichols & Pratt Advisers LLP MA grew its stake in Abbott Laboratories (NYSE:ABTFree Report) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,554 shares of the healthcare product maker’s stock after buying an additional 300 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Abbott Laboratories were worth $3,831,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Altshuler Shaham Ltd purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $28,000. Cornerstone Planning Group LLC bought a new position in Abbott Laboratories during the second quarter valued at approximately $28,000. Halpern Financial Inc. bought a new position in Abbott Laboratories during the third quarter valued at approximately $26,000. CGC Financial Services LLC bought a new position in Abbott Laboratories during the second quarter valued at approximately $32,000. Finally, FWL Investment Management LLC bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ABT. Royal Bank of Canada reissued an “outperform” rating and set a $128.00 price target on shares of Abbott Laboratories in a research note on Thursday, January 25th. Citigroup raised their price objective on Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Raymond James raised their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, UBS Group lowered their price objective on Abbott Laboratories from $130.00 to $118.00 in a research note on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Get Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Trading Down 0.3 %

ABT opened at $111.53 on Monday. The stock’s fifty day moving average is $110.62 and its two-hundred day moving average is $103.90. The company has a market capitalization of $193.62 billion, a P/E ratio of 34.30, a PEG ratio of 2.69 and a beta of 0.75. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $115.83. The company has a quick ratio of 1.23, a current ratio of 1.74 and a debt-to-equity ratio of 0.38.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.19. Abbott Laboratories had a return on equity of 20.84% and a net margin of 14.27%. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.19 billion. During the same period last year, the business posted $1.03 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. Analysts forecast that Abbott Laboratories will post 4.61 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.97%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 67.48%.

Insider Activity

In related news, EVP Andrea F. Wainer sold 15,000 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $108.00, for a total transaction of $1,620,000.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,022,916. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrea F. Wainer sold 15,000 shares of Abbott Laboratories stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $108.00, for a total value of $1,620,000.00. Following the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,022,916. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Company Profile

(Free Report)

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 Established Pharmaceutical Products segment 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.

Further Reading

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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