Magnus Financial Group LLC Grows Holdings in Abbott Laboratories (NYSE:ABT)

Magnus Financial Group LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,033 shares of the healthcare product maker’s stock after buying an additional 171 shares during the quarter. Magnus Financial Group LLC’s holdings in Abbott Laboratories were worth $456,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at $31,000. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories in the third quarter valued at $32,000. Valued Wealth Advisors LLC lifted its position in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the period. Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories in the 3rd quarter worth about $37,000. Finally, JDM Financial Group LLC increased its stake in shares of Abbott Laboratories by 51.3% during the 3rd quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $117.76 on Thursday. The firm has a fifty day simple moving average of $114.87 and a 200-day simple moving average of $113.04. The company has a market capitalization of $204.25 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.43 and a beta of 0.73. 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.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11,029,400 billion. During the same period last year, the firm earned $1.19 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 71.73%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ABT shares. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays boosted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday. Evercore ISI upped their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, Mizuho lifted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $131.93.

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.