By otakuyassine3@gmail.com 
First United Bank & Trust cut its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,929 shares of the healthcare product maker’s stock after selling 245 shares during the period. First United Bank & Trust’s holdings in Abbott Laboratories were worth $1,802,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the 3rd quarter worth about $31,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories during the third quarter worth approximately $32,000. Valued Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories during the second quarter worth $32,000. Finally, Highline Wealth Partners LLC bought a new stake in Abbott Laboratories during the 3rd quarter worth about $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ABT. Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Evercore ISI boosted their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Piper Sandler raised their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, 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 note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.57.
Read Our Latest Stock Analysis on Abbott Laboratories
Abbott Laboratories Stock Performance
Shares of Abbott Laboratories stock opened at $113.45 on Tuesday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The firm 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 company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company’s 50 day moving average price is $114.93 and its two-hundred day moving average price is $112.87.
Abbott Laboratories Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 66.87%.
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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