Abbott Laboratories (NYSE:ABT) is Tsfg LLC’s 10th Largest Position

Tsfg LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 12.6% during the 4th quarter, HoldingsChannel reports. The firm owned 106,061 shares of the healthcare product maker’s stock after acquiring an additional 11,836 shares during the period. Abbott Laboratories accounts for 2.5% of Tsfg LLC’s portfolio, making the stock its 10th biggest position. Tsfg LLC’s holdings in Abbott Laboratories were worth $11,997,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ABT. Massachusetts Financial Services Co. MA increased its position 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 purchasing an additional 2,711,586 shares during the period. Sessa Capital IM L.P. acquired a new position in Abbott Laboratories during the second quarter worth $264,876,000. State Street Corp raised its position in 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 acquiring an additional 2,323,807 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Abbott Laboratories by 13,194.9% in the third 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 acquiring an additional 1,667,170 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Abbott Laboratories by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after purchasing an additional 1,596,835 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABT. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Barclays upped their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Royal Bank of Canada upped their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Mizuho boosted their price objective 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, Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.57.

Abbott Laboratories Trading Up 0.7 %

ABT stock traded up $0.81 during midday trading on Monday, hitting $113.12. The stock had a trading volume of 4,409,603 shares, compared to its average volume of 4,756,707. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The firm has a market cap of $196.20 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The company’s 50-day moving average price is $115.33 and its 200 day moving average price is $112.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, equities research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.09%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

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.