Renaissance Investment Group LLC Has $1.28 Million Position in Abbott Laboratories (NYSE:ABT)

Renaissance Investment Group LLC cut its holdings in Abbott Laboratories (NYSE:ABTFree Report) by 11.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,320 shares of the healthcare product maker’s stock after selling 1,428 shares during the quarter. Renaissance Investment Group LLC’s holdings in Abbott Laboratories were worth $1,280,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bath Savings Trust Co boosted its holdings in shares of Abbott Laboratories by 3.7% in the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after buying an additional 5,881 shares during the period. Simplify Asset Management Inc. boosted its stake in Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after purchasing an additional 5,664 shares during the period. Pensionfund Sabic acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $2,828,000. Dundas Partners LLP lifted its holdings in shares of Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after purchasing an additional 6,897 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Abbott Laboratories by 19.6% during the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after buying an additional 31,720 shares during the period. 75.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent research reports. Raymond James reissued a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. UBS Group raised their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their price target 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, Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. 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 MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $131.57.

Read Our Latest Report on Abbott Laboratories

Abbott Laboratories Price Performance

NYSE:ABT opened at $113.45 on Friday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The firm has a market capitalization of $196.78 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. The stock’s 50 day moving average price is $114.93 and its two-hundred day moving average price is $112.73. 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 (NYSE:ABTGet Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the prior year, the business earned $1.14 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

About Abbott Laboratories

(Free Report)

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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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