Abbott Laboratories (NYSE:ABT) Stake Trimmed by Arkadios Wealth Advisors

Arkadios Wealth Advisors cut its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 24.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,902 shares of the healthcare product maker's stock after selling 3,749 shares during the quarter. Arkadios Wealth Advisors' holdings in Abbott Laboratories were worth $1,346,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC raised its stake in Abbott Laboratories by 10.0% during the second quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker's stock valued at $3,670,000 after buying an additional 3,200 shares in the last quarter. AE Wealth Management LLC lifted its stake in Abbott Laboratories by 14.4% during the second quarter. AE Wealth Management LLC now owns 54,359 shares of the healthcare product maker's stock worth $5,648,000 after purchasing an additional 6,859 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Abbott Laboratories by 4.5% in the second quarter. Thrivent Financial for Lutherans now owns 479,241 shares of the healthcare product maker's stock worth $49,799,000 after purchasing an additional 20,480 shares during the period. ProShare Advisors LLC increased its stake in Abbott Laboratories by 7.2% during the second quarter. ProShare Advisors LLC now owns 1,900,249 shares of the healthcare product maker's stock valued at $197,455,000 after purchasing an additional 127,133 shares during the last quarter. Finally, Prospector Partners LLC raised its holdings in shares of Abbott Laboratories by 2.9% during the second quarter. Prospector Partners LLC now owns 179,195 shares of the healthcare product maker's stock worth $18,620,000 after purchasing an additional 4,970 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Analysts Set New Price Targets

ABT has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research report on Thursday, January 2nd. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a "hold" rating in a research report on Thursday, October 17th. Piper Sandler raised their price target 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. Oppenheimer initiated 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. Finally, Barclays boosted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $131.57.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded down $0.46 during trading hours on Monday, hitting $113.45. 6,443,213 shares of the company's stock traded hands, compared to its average volume of 4,199,178. The company's fifty day simple moving average is $114.93 and its two-hundred day simple moving average is $112.87. The company has a market cap 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. 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 52 week low of $99.71 and a 52 week high of $121.64.

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 given a $0.59 dividend. This is a positive change 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 annualized dividend and a yield of 2.08%. Abbott Laboratories's payout ratio is 66.87%.

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.