OneAscent Financial Services LLC Has $2.07 Million Holdings in Abbott Laboratories (NYSE:ABT)

OneAscent Financial Services LLC lifted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 128.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,610 shares of the healthcare product maker's stock after buying an additional 8,786 shares during the period. OneAscent Financial Services LLC's holdings in Abbott Laboratories were worth $2,066,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ABT. Hughes Financial Services LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $27,000. Abound Financial LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $28,000. Redwood Park Advisors LLC bought a new position in Abbott Laboratories in the 4th quarter valued at $25,000. JCIC Asset Management Inc. bought a new position in Abbott Laboratories in the 1st quarter valued at $32,000. Finally, WealthTrak Capital Management LLC bought a new position in Abbott Laboratories in the 4th quarter valued at $28,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Raymond James Financial decreased their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday. Royal Bank Of Canada increased their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley increased their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Barclays increased their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Finally, Piper Sandler reissued an "overweight" rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Price Performance

NYSE:ABT opened at $123.81 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The stock's 50-day simple moving average is $132.98 and its 200 day simple moving average is $129.56. The company has a market cap of $215.41 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.35 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.92 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS 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 dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.61%.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.46% of the company's stock.

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.

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