Corundum Group Inc. Has $1.47 Million Holdings in Abbott Laboratories (NYSE:ABT)

Corundum Group Inc. raised its holdings in Abbott Laboratories (NYSE:ABT) by 47.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,981 shares of the healthcare product maker’s stock after purchasing an additional 4,193 shares during the quarter. Corundum Group Inc.’s holdings in Abbott Laboratories were worth $1,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Groupama Asset Managment grew its stake in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories in the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $32,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories during the third quarter worth $32,000. Finally, Valued Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays boosted their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler boosted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein raised their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Mizuho increased their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley lifted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $131.57.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $113.45 on Monday. The company has a market capitalization of $196.78 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company’s 50 day moving average price is $114.93 and its two-hundred day moving average price is $112.80.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 66.87%.

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.