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Abbott Laboratories (NYSE:ABT) Is SBB Research Group LLC's 8th Largest Position

Financial News Live · Feb 7, 2023 13:12

SBB Research Group LLC reduced its holdings in Abbott Laboratories (NYSE:ABT – Get Rating) by 7.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,293 shares of the healthcare product maker's stock after selling 1,774 shares during the period. Abbott Laboratories makes up 3.1% of SBB Research Group LLC's portfolio, making the stock its 8th largest holding. SBB Research Group LLC's holdings in Abbott Laboratories were worth $2,157,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Insight Inv LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth about $26,000. EdgeRock Capital LLC bought a new stake in Abbott Laboratories during the 3rd quarter valued at about $29,000. Newbridge Financial Services Group Inc. lifted its holdings in Abbott Laboratories by 148.4% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 477 shares of the healthcare product maker's stock valued at $46,000 after buying an additional 285 shares in the last quarter. WFA of San Diego LLC bought a new stake in Abbott Laboratories during the 2nd quarter valued at about $60,000. Finally, Johnson Midwest Financial LLC lifted its holdings in Abbott Laboratories by 28.7% during the 3rd quarter. Johnson Midwest Financial LLC now owns 560 shares of the healthcare product maker's stock valued at $35,000 after buying an additional 125 shares in the last quarter. 72.93% of the stock is owned by hedge funds and other institutional investors.

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Abbott Laboratories Stock Up 0.5 %

Shares of Abbott Laboratories stock traded up $0.60 during trading on Tuesday, reaching $111.35. The company's stock had a trading volume of 847,899 shares, compared to its average volume of 4,843,972. The company has a 50-day simple moving average of $109.86 and a two-hundred day simple moving average of $105.96. Abbott Laboratories has a 1-year low of $93.25 and a 1-year high of $130.79. The company has a quick ratio of 1.43, a current ratio of 1.86 and a debt-to-equity ratio of 0.43. The company has a market cap of $194.15 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 5.01 and a beta of 0.66.

Abbott Laboratories (NYSE:ABT – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The healthcare product maker reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.13. The business had revenue of $10.09 billion during the quarter, compared to analyst estimates of $9.69 billion. Abbott Laboratories had a return on equity of 26.24% and a net margin of 15.88%. The company's revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the business posted $1.32 EPS. As a group, equities analysts forecast that Abbott Laboratories will post 4.38 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 13th will be paid a dividend of $0.51 per share. The ex-dividend date is Thursday, January 12th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.83%. This is a positive change from Abbott Laboratories's previous quarterly dividend of $0.47. Abbott Laboratories's dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP John F. Ginascol sold 11,000 shares of Abbott Laboratories stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $112.32, for a total value of $1,235,520.00. Following the completion of the transaction, the executive vice president now owns 111,912 shares in the company, valued at approximately $12,569,955.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $110.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, January 26th. Mizuho lifted their price objective on shares of Abbott Laboratories from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, January 24th. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $117.00 to $133.00 and gave the company an "overweight" rating in a report on Friday, January 6th. Wells Fargo & Company reduced their price target on shares of Abbott Laboratories from $150.00 to $140.00 and set an "overweight" rating for the company in a report on Monday, October 10th. Finally, BTIG Research reduced their price target on shares of Abbott Laboratories from $126.00 to $123.00 and set a "buy" rating for the company in a report on Monday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $125.63.

Abbott Laboratories Company Profile

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Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.