Stonegate Investment Group LLC Has $9 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Stonegate Investment Group LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,552 shares of the healthcare product maker’s stock after buying an additional 758 shares during the quarter. Stonegate Investment Group LLC’s holdings in Abbott Laboratories were worth $8,998,000 at the end of the most recent reporting period.

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

Abbott Laboratories Trading Up 3.6 %

Shares of ABT stock opened at $129.51 on Tuesday. The stock has a 50-day moving average of $115.26 and a 200-day moving average of $113.46. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $224.63 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $129.76.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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 net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Abbott Laboratories will post 5.15 earnings per share for the current 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 given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.82%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Barclays restated an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday. Raymond James reissued a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Morgan Stanley boosted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Mizuho lifted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.06.

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.