Cambridge Advisors Inc. lessened its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,845 shares of the healthcare product maker’s stock after selling 250 shares during the period. Cambridge Advisors Inc.’s holdings in Abbott Laboratories were worth $774,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bath Savings Trust Co raised its holdings in shares of Abbott Laboratories by 3.7% during the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after acquiring an additional 5,881 shares in the last quarter. Simplify Asset Management Inc. raised its holdings in Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after purchasing an additional 5,664 shares in the last quarter. Pensionfund Sabic purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth about $2,828,000. Dundas Partners LLP boosted its stake in shares of Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after purchasing an additional 6,897 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after buying an additional 31,720 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.
Analyst Ratings Changes
ABT has been the topic of several research reports. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Royal Bank of Canada upped their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays upped their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.57.
Abbott Laboratories Stock Down 0.4 %
ABT stock opened at $113.45 on Friday. 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 has a 1-year low of $99.71 and a 1-year high of $121.64. The stock has a market capitalization of $196.78 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. The business has a fifty day moving average price of $114.93 and a 200-day moving average price of $112.73.
Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter last year, the firm posted $1.14 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.
Abbott Laboratories Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 2.08%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.
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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