Earned Wealth Advisors LLC Acquires 2,020 Shares of Abbott Laboratories (NYSE:ABT)

Key Points

• Earned Wealth Advisors LLC increased its holdings in Abbott Laboratories by 94.5%, acquiring an additional 2,020 shares during the first quarter, bringing its total to 4,157 shares valued at $551,000.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, translating to an annualized payout of $2.36 and a dividend yield of 1.9%.
• The company reported $1.26 EPS for the last quarter, meeting expectations, with a revenue of $11.14 billion, showing a year-over-year growth of 7.4%.

Earned Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 94.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,157 shares of the healthcare product maker's stock after purchasing an additional 2,020 shares during the period. Earned Wealth Advisors LLC's holdings in Abbott Laboratories were worth $551,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock worth $5,850,000 after acquiring an additional 4,755 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $110,000. Prudential PLC increased its holdings in Abbott Laboratories by 4.4% in the 4th quarter. Prudential PLC now owns 38,376 shares of the healthcare product maker's stock worth $4,341,000 after buying an additional 1,603 shares in the last quarter. Finally, Hurley Capital LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $62,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABT has been the subject of a number of research analyst reports. Mizuho lifted their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Raymond James Financial cut their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Barclays upped their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Trading Up 0.2%

NYSE ABT traded up $0.32 during trading hours on Wednesday, hitting $131.01. 5,169,717 shares of the company were exchanged, compared to its average volume of 7,849,259. The stock has a market cap of $228.02 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.48 and a beta of 0.70. Abbott Laboratories has a 52 week low of $107.11 and a 52 week high of $141.23. The stock has a 50-day moving average price of $131.72 and a 200 day moving average price of $130.72. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The business's revenue for the quarter was up 7.4% on a year-over-year basis. Analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

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.