Trueblood Wealth Management LLC Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

Trueblood Wealth Management LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,966 shares of the healthcare product maker’s stock after purchasing an additional 378 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Abbott Laboratories were worth $675,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Groupama Asset Managment boosted its stake in Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories during the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories during the 2nd quarter valued at about $32,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories in the third quarter worth about $32,000. Finally, Valued Wealth Advisors LLC grew its position in Abbott Laboratories by 78.4% in the 3rd 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 during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

ABT opened at $113.45 on Monday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The firm has a market cap of $196.78 billion, a P/E ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73. The business’s fifty day simple moving average is $114.93 and its 200 day simple moving average is $112.80. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ABT shares. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley raised their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their price objective 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. UBS Group upped 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. Finally, Raymond James restated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.