Cascade Investment Group Inc. Acquires 802 Shares of Abbott Laboratories (NYSE:ABT)

Cascade Investment Group Inc. grew its holdings in Abbott Laboratories (NYSE:ABT) by 31.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,345 shares of the healthcare product maker’s stock after acquiring an additional 802 shares during the period. Cascade Investment Group Inc.’s holdings in Abbott Laboratories were worth $378,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Intech Investment Management LLC increased its holdings in Abbott Laboratories by 10.0% in the 2nd quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker’s stock valued at $3,670,000 after acquiring an additional 3,200 shares during the last quarter. AE Wealth Management LLC grew its holdings in Abbott Laboratories by 14.4% during the 2nd quarter. AE Wealth Management LLC now owns 54,359 shares of the healthcare product maker’s stock valued at $5,648,000 after buying an additional 6,859 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Abbott Laboratories by 4.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 479,241 shares of the healthcare product maker’s stock worth $49,799,000 after acquiring an additional 20,480 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Abbott Laboratories by 7.2% during the 2nd quarter. ProShare Advisors LLC now owns 1,900,249 shares of the healthcare product maker’s stock worth $197,455,000 after acquiring an additional 127,133 shares in the last quarter. Finally, Prospector Partners LLC grew its holdings in shares of Abbott Laboratories by 2.9% in the second quarter. Prospector Partners LLC now owns 179,195 shares of the healthcare product maker’s stock valued at $18,620,000 after purchasing an additional 4,970 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent research reports. Raymond James restated a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Royal Bank of Canada raised their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Evercore ISI boosted their price objective on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Barclays raised their target price 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. Finally, Piper Sandler increased their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $113.45 on Monday. The business’s fifty day simple moving average is $114.93 and its 200-day simple moving average is $112.80. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $196.78 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio is 66.87%.

Abbott Laboratories 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.