City Holding Co. Raises Holdings in Abbott Laboratories (NYSE:ABT)

City Holding Co. raised its stake in Abbott Laboratories (NYSE:ABT) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 41,958 shares of the healthcare product maker’s stock after purchasing an additional 266 shares during the quarter. City Holding Co.’s holdings in Abbott Laboratories were worth $4,746,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories in the third quarter valued at about $31,000. Peterson Financial Group Inc. purchased a new position in shares of Abbott Laboratories during the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC raised its holdings 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 acquiring an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the second quarter valued at $32,000. Finally, Highline Wealth Partners LLC purchased a new position in Abbott Laboratories during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ABT shares. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Barclays increased their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler upped their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, 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 research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.57.

Abbott Laboratories Trading Down 0.4 %

NYSE:ABT opened at $113.45 on Monday. The firm has a market capitalization of $196.78 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth 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 business has a fifty day moving average price of $114.93 and a 200-day moving average price of $112.80. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64.

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 paid a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

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.