Abbott Laboratories (NYSE:ABT) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,307 shares of the healthcare product maker’s stock after selling 716 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Abbott Laboratories were worth $5,577,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. 1832 Asset Management L.P. increased its stake in shares of Abbott Laboratories by 115.9% during the second quarter. 1832 Asset Management L.P. now owns 161,505 shares of the healthcare product maker’s stock valued at $16,782,000 after acquiring an additional 86,707 shares during the period. Epoch Investment Partners Inc. grew its holdings in shares of Abbott Laboratories by 1.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 60,703 shares of the healthcare product maker’s stock valued at $6,308,000 after acquiring an additional 988 shares in the last quarter. Certified Advisory Corp acquired a new position in Abbott Laboratories in the 2nd quarter worth about $622,000. Resources Management Corp CT ADV grew its position in Abbott Laboratories by 0.9% in the second quarter. Resources Management Corp CT ADV now owns 60,727 shares of the healthcare product maker’s stock worth $6,310,000 after acquiring an additional 522 shares in the last quarter. Finally, Providence Capital Advisors LLC boosted its stake in shares of Abbott Laboratories by 0.8% during the 2nd quarter. Providence Capital Advisors LLC now owns 61,846 shares of the healthcare product maker’s stock worth $6,426,000 after acquiring an additional 474 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $116.78 on Wednesday. The company has a market capitalization of $202.55 billion, a P/E ratio of 35.50, a P/E/G ratio of 2.43 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The business has a 50 day moving average of $114.87 and a 200-day moving average of $113.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last issued 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 during the quarter, compared to the consensus estimate of $11,029,400 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.19 EPS. On average, equities research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This is a boost 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 2.02%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent analyst reports. Piper Sandler upped their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. UBS Group boosted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Oppenheimer started coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Barclays raised their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $131.93.

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.