Abbott Laboratories (NYSE:ABT) Stock Position Reduced by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,931 shares of the healthcare product maker’s stock after selling 658 shares during the period. Abbott Laboratories comprises approximately 2.0% of CHICAGO TRUST Co NA’s holdings, making the stock its 7th largest position. CHICAGO TRUST Co NA’s holdings in Abbott Laboratories were worth $11,416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC lifted its stake in shares of Abbott Laboratories by 10.4% in the second quarter. Thoroughbred Financial Services LLC now owns 19,922 shares of the healthcare product maker’s stock worth $2,070,000 after buying an additional 1,882 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Abbott Laboratories by 3.6% in the second quarter. William Blair Investment Management LLC now owns 118,828 shares of the healthcare product maker’s stock worth $12,347,000 after buying an additional 4,166 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of Abbott Laboratories by 14.5% in the second quarter. J.W. Cole Advisors Inc. now owns 23,702 shares of the healthcare product maker’s stock worth $2,463,000 after buying an additional 3,010 shares during the last quarter. Williams Financial LLC acquired a new stake in shares of Abbott Laboratories in the second quarter worth $442,000. Finally, Diversify Wealth Management LLC acquired a new position in Abbott Laboratories during the 2nd quarter valued at $1,961,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

ABT stock traded up $0.27 during midday trading on Monday, reaching $112.58. 1,191,727 shares of the company were exchanged, compared to its average volume of 4,283,651. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. 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 firm has a market capitalization of $195.26 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The business has a 50-day moving average price of $115.33 and a two-hundred day moving average price of $112.54.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion during 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 was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. Equities research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 71.73%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Raymond James reaffirmed a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein upped their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.57.

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.