Three Seasons Wealth LLC Makes New Investment in Abbott Laboratories (NYSE:ABT)

Three Seasons Wealth LLC acquired a new position in Abbott Laboratories (NYSE:ABT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,625 shares of the healthcare product maker’s stock, valued at approximately $1,428,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. boosted its holdings in shares of Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 76 shares in the last quarter. Capital Square LLC grew its position in Abbott Laboratories by 2.7% during the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock valued at $368,000 after acquiring an additional 77 shares during the last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Abbott Laboratories by 9.0% during the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after acquiring an additional 79 shares in the last quarter. Jacobson & Schmitt Advisors LLC lifted its holdings in shares of Abbott Laboratories by 2.9% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after acquiring an additional 80 shares during the last quarter. Finally, LMG Wealth Partners LLC boosted its stake in shares of Abbott Laboratories by 3.8% in the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after purchasing an additional 80 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the sale, the executive vice president now owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock valued at $15,463,316 over the last ninety days. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

ABT opened at $129.38 on Friday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The stock has a 50-day moving average price of $130.57 and a 200-day moving average price of $122.31. The firm has a market cap of $224.39 billion, a PE ratio of 16.91, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. Sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABT. Piper Sandler reissued an “overweight” rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Barclays increased their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research report on Thursday, April 17th. Finally, Evercore ISI increased their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

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.