Abbott Laboratories (NYSE:ABT) Shares Sold by Clean Yield Group

Clean Yield Group cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,385 shares of the healthcare product maker’s stock after selling 185 shares during the quarter. Clean Yield Group’s holdings in Abbott Laboratories were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ABT. State Street Corp boosted 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 valued at $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after buying an additional 488,764 shares during the last quarter. Wellington Management Group LLP grew its holdings in Abbott Laboratories by 1.1% during the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after acquiring an additional 280,441 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after acquiring an additional 2,711,586 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Abbott Laboratories by 5.6% during the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after purchasing an additional 585,915 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Oppenheimer started coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Piper Sandler lifted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Barclays boosted their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Trading Up 0.4 %

NYSE ABT traded up $0.47 on Monday, reaching $112.78. 2,061,760 shares of the company were exchanged, compared to its average volume of 4,398,943. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The stock has a market capitalization of $195.61 billion, a P/E ratio of 34.28, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The business’s fifty day moving average price is $115.33 and its 200 day moving average price is $112.54. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.09%. 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. Abbott Laboratories’s dividend payout ratio is 71.73%.

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.