Twelve Points Wealth Management LLC Has $558,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Twelve Points Wealth Management LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 7.1% during the fourth quarter, Holdings Channel reports. The fund owned 4,931 shares of the healthcare product maker’s stock after selling 377 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Abbott Laboratories were worth $558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Abbott Laboratories by 3.1% in 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 purchasing an additional 2,323,807 shares in the last quarter. Geode Capital Management LLC increased its stake in Abbott Laboratories by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after buying an additional 488,764 shares during the period. Wellington Management Group LLP lifted its position in Abbott Laboratories by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after buying an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Abbott Laboratories by 5.6% in the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after acquiring an additional 585,915 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Jefferies Financial Group boosted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Raymond James reissued a “buy” rating and issued 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 raised their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Mizuho boosted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein raised their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $133.06.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $127.28 on Wednesday. The firm has a fifty day moving average price of $115.50 and a two-hundred day moving average price of $113.64. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $129.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market cap of $220.76 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.19 earnings per share. Analysts expect that Abbott Laboratories will post 5.15 EPS for the current year.

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 given a $0.59 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.85%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.