Capital Investment Counsel LLC increased its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,593 shares of the healthcare product maker’s stock after acquiring an additional 190 shares during the quarter. Capital Investment Counsel LLC’s holdings in Abbott Laboratories were worth $633,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in shares of Abbott Laboratories by 25.6% during the 3rd 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. State Street Corp lifted its holdings in Abbott Laboratories by 3.1% during the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the period. International Assets Investment Management LLC raised its position in Abbott Laboratories by 13,194.9% in the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after acquiring an additional 1,667,170 shares during the period. Sessa Capital IM L.P. lifted its position in shares of Abbott Laboratories by 47.1% during the 3rd quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock valued at $427,481,000 after buying an additional 1,200,409 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Abbott Laboratories by 13.7% during the third quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock worth $1,144,818,000 after purchasing an additional 1,180,040 shares during the period. 75.18% of the stock is owned by institutional investors.
Abbott Laboratories Trading Down 1.7 %
NYSE ABT opened at $127.28 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $129.85. The stock has a market cap of $220.76 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. The stock has a 50 day simple moving average of $115.50 and a two-hundred day simple moving average of $113.64.
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 paid a dividend of $0.59 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.
Analysts Set New Price Targets
A number of research firms recently issued reports on ABT. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Piper Sandler raised their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley increased their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. UBS Group upped their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays reissued an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research note on Monday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.06.
View Our Latest Report on Abbott Laboratories
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.
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