Diversify Wealth Management LLC Lowers Stake in Abbott Laboratories (NYSE:ABT)

Diversify Wealth Management LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,604 shares of the healthcare product maker’s stock after selling 1,111 shares during the quarter. Diversify Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,865,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Groupama Asset Managment raised its position in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter worth approximately $32,000. Finally, Valued Wealth Advisors LLC increased its position 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 worth $33,000 after purchasing an additional 127 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.4 %

NYSE:ABT opened at $113.45 on Tuesday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $114.93 and its two-hundred day moving average is $112.87. The stock 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.

Abbott Laboratories Increases Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio is 66.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ABT shares. Morgan Stanley upped their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Evercore ISI boosted their price objective on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company 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.