Abbott Laboratories (NYSE:ABT) Shares Sold by Asset Dedication LLC

Asset Dedication LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 47.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,673 shares of the healthcare product maker's stock after selling 8,658 shares during the quarter. Asset Dedication LLC's holdings in Abbott Laboratories were worth $1,094,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABT. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the third quarter valued at about $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories in the third quarter valued at about $32,000. Valued Wealth Advisors LLC grew its stake in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock valued at $33,000 after purchasing an additional 127 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories in the third quarter worth about $37,000. Finally, JDM Financial Group LLC boosted its holdings in Abbott Laboratories by 51.3% in the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker's stock worth $41,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Up 0.7 %

Shares of Abbott Laboratories stock traded up $0.89 during trading hours on Thursday, hitting $128.75. The company's stock had a trading volume of 6,339,425 shares, compared to its average volume of 7,281,679. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $129.85. The firm has a fifty day moving average of $115.94 and a 200-day moving average of $113.90. The stock has a market cap of $223.32 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 2.51 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 (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the prior year, the company earned $1.19 EPS. Abbott Laboratories's revenue was up 7.2% on a year-over-year basis. Research analysts forecast 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 paid a dividend of $0.59 per share. This is a positive change from Abbott Laboratories's previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 1.83%. Abbott Laboratories's dividend payout ratio is presently 30.85%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ABT. Raymond James reaffirmed a "buy" rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Morgan Stanley boosted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Evercore ISI boosted their price target on Abbott Laboratories to $136.00 and gave the company a "buy" rating in a report on Thursday, January 2nd. UBS Group boosted their price target on Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Finally, Piper Sandler boosted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.06.

Abbott Laboratories Company 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.