Abbott Laboratories (NYSE:ABT) Stock Holdings Lessened by Wendell David Associates Inc.

Wendell David Associates Inc. reduced its stake in Abbott Laboratories (NYSE:ABT) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 222,208 shares of the healthcare product maker’s stock after selling 1,332 shares during the quarter. Abbott Laboratories accounts for 2.5% of Wendell David Associates Inc.’s investment portfolio, making the stock its 9th biggest holding. Wendell David Associates Inc.’s holdings in Abbott Laboratories were worth $25,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Groupama Asset Managment lifted its stake in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories during the third quarter worth about $32,000. Valued Wealth Advisors LLC grew its position in 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 buying an additional 127 shares during the period. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.8 %

ABT opened at $117.76 on Thursday. The firm has a market capitalization of $204.25 billion, a P/E ratio of 35.79, a P/E/G ratio of 2.43 and a beta of 0.73. The firm’s 50 day moving average is $114.87 and its 200-day moving average is $113.04. 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 has a 52-week low of $99.71 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11,029,400 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal 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 issued a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

Analyst Ratings Changes

ABT has been the topic of a number of research reports. Jefferies Financial Group upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Raymond James reaffirmed a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Piper Sandler increased their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays upped their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, UBS Group raised their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.93.

About Abbott Laboratories

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.