By otakuyassine3@gmail.com 
Towerpoint Wealth LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,792 shares of the healthcare product maker’s stock after selling 153 shares during the period. Towerpoint Wealth LLC’s holdings in Abbott Laboratories were worth $768,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its holdings in shares of Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after acquiring an additional 2,711,586 shares during the period. Sessa Capital IM L.P. purchased a new stake in Abbott Laboratories in the second quarter worth $264,876,000. State Street Corp raised its holdings in Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares in the last quarter. International Assets Investment Management LLC lifted its position in Abbott Laboratories by 13,194.9% during the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after buying an additional 1,667,170 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Abbott Laboratories by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock valued at $1,144,818,000 after buying an additional 1,180,040 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Stock Performance
Abbott Laboratories stock traded up $0.41 during midday trading on Thursday, reaching $111.51. 332,893 shares of the company traded hands, compared to its average volume of 4,408,849. 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 12 month low of $99.71 and a 12 month high of $121.64. The firm has a market capitalization of $193.41 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The business has a 50 day moving average of $115.14 and a two-hundred day moving average of $112.67.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS. As a group, research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.
Abbott Laboratories Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.12%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Piper Sandler raised 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 reissued a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Barclays lifted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.57.
Get Our Latest Research Report on Abbott Laboratories
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.
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