Vest Financial LLC Increases Stake in Abbott Laboratories

Vest Financial LLC has raised its investment in Abbott Laboratories (NYSE:ABT) by 6.4% during the fourth quarter of the year, as indicated in their latest 13F filing with the Securities and Exchange Commission. Following this, the firm now holds a total of 500,313 shares of this healthcare product manufacturer after acquiring an additional 29,955 shares during the reporting period.

Abbott Laboratories constitutes approximately 1.0% of Vest Financial LLC's total holdings, making it their 23rd largest investment. The value of their Abbott Laboratories shares was estimated at $56,590,000 at the close of the last reporting period.

Additional Institutional Investments

Alongside Vest Financial LLC, other institutional investors have also adjusted their positions in Abbott Laboratories recently. For instance, Cidel Asset Management Inc. increased its stake in the company by a significant 62.9% during the fourth quarter, resulting in ownership of 321,220 shares worth around $36,333,000 following the purchase of 124,023 additional shares.

Joel Isaacson & Co. LLC also ramped up their investment, boosting their stake by 95.6% and owning 4,004 shares valued at $453,000 after acquiring an extra 1,957 shares during the same period. Additionally, Northstar Group Inc. expanded its position by 1.8%, now holding 6,775 shares valued at $766,000, and Appleton Partners Inc. MA increased its holdings by 1.9% to 14,156 shares worth $1,601,000 after buying 270 shares.

Close Asset Management Ltd entered a new investment in Abbott Laboratories in the fourth quarter with an investment valued at $1,132,000. Currently, about 75.18% of Abbott Laboratories' stock is held by institutional investors.

Insider Trading Activity at Abbott Laboratories

On January 30th, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories at an average price of $128.50 per share, resulting in a total transaction value of approximately $3.05 million. Post-sale, the executive vice president owns 125,697 shares of the company, worth around $16.15 million, which marks a 15.90% reduction in their stock ownership. This transaction was officially reported to the Securities and Exchange Commission.

Analytical Ratings and Projections

Various analysts have expressed their outlook on Abbott Laboratories. For example, Jefferies Financial Group raised its price target from $120 to $125 and maintained a "hold" rating in a note published on October 17th.

Piper Sandler increased their price target from $131 to $133 while issuing an "overweight" rating, and Barclays set a new target price of $158, up from $149, emphasizing an "overweight" stance on January 27th. Further, Evercore ISI revised their price target to $136 and assigned a "buy" rating in January.

Currently, four analysts have given the stock a hold rating, while thirteen analysts recommend a buy, and two have issued a strong buy rating. Abbott Laboratories is currently rated as a "Moderate Buy" with an average price target of $133.06 according to MarketBeat.com.

Recent Financial Performance of Abbott Laboratories

Recently, Abbott Laboratories reported its quarterly earnings on January 22nd, revealing an earnings per share (EPS) of $1.34, aligning with analyst predictions. The company achieved a net margin of 31.95% and a return on equity of 20.74%, with quarterly revenue recorded at $10.97 billion, slightly below the $11.03 billion expected by analysts. Compared to the same quarter the previous year, Abbott's revenue increased by 7.2%.

Dividend Announcement

Additionally, Abbott Laboratories has announced an increase in its quarterly dividend, which will be paid on February 14th. Shareholders recorded as of January 15th will receive a dividend of $0.59 per share, marking an annualized dividend of $2.36 and a yield of 1.83%. This is an increase from a previous dividend of $0.55 per share, with a current dividend payout ratio of 30.85%.

Overview of Abbott Laboratories

Abbott Laboratories, along with its subsidiaries, is engaged in discovering, developing, manufacturing, and selling healthcare products globally. Its operations are categorized into four segments, including Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company offers a diverse range of products, from generic pharmaceuticals to medical devices and diagnostics.

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