Capital Asset Advisory Services LLC Buys 984 Shares of Abbott Laboratories (NYSE:ABT)

Capital Asset Advisory Services LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,732 shares of the healthcare product maker’s stock after acquiring an additional 984 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Abbott Laboratories were worth $3,384,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Massachusetts Financial Services Co. MA grew its holdings in 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 worth $1,518,539,000 after acquiring an additional 2,711,586 shares during the last quarter. State Street Corp boosted its stake in shares of Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Abbott Laboratories by 13,194.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after purchasing an additional 1,667,170 shares during the last quarter. Sessa Capital IM L.P. boosted its stake in shares of Abbott Laboratories by 47.1% in the 3rd quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock valued at $427,481,000 after purchasing an additional 1,200,409 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Abbott Laboratories by 13.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock valued at $1,144,818,000 after purchasing an additional 1,180,040 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Piper Sandler increased their price target 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. Raymond James reiterated a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Barclays increased their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $125.12 on Monday. The company has a market capitalization of $217.01 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $125.67. The company’s 50 day moving average price is $115.26 and its two-hundred day moving average price is $113.39. 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) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11,029,400 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS. On average, analysts expect that Abbott Laboratories will post 5.15 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

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.