Planned Solutions Inc. Reduces Position in Abbott Laboratories (NYSE:ABT)

Planned Solutions Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT) by 9.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,141 shares of the healthcare product maker’s stock after selling 215 shares during the period. Planned Solutions Inc.’s holdings in Abbott Laboratories were worth $242,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Atomi Financial Group Inc. grew its stake in shares of Abbott Laboratories by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 19,846 shares of the healthcare product maker’s stock valued at $2,245,000 after purchasing an additional 3,397 shares during the period. Prairie Sky Financial Group LLC grew its position in Abbott Laboratories by 1.3% during the fourth quarter. Prairie Sky Financial Group LLC now owns 78,482 shares of the healthcare product maker’s stock valued at $8,877,000 after buying an additional 1,042 shares during the period. Transform Wealth LLC increased its holdings in Abbott Laboratories by 54.6% during the fourth quarter. Transform Wealth LLC now owns 10,969 shares of the healthcare product maker’s stock valued at $1,241,000 after buying an additional 3,875 shares during the last quarter. Chesley Taft & Associates LLC raised its position in Abbott Laboratories by 0.6% in the fourth quarter. Chesley Taft & Associates LLC now owns 237,660 shares of the healthcare product maker’s stock worth $26,882,000 after acquiring an additional 1,491 shares during the period. Finally, Charles Schwab Trust Co boosted its stake in shares of Abbott Laboratories by 6.5% during the 4th quarter. Charles Schwab Trust Co now owns 16,206 shares of the healthcare product maker’s stock worth $1,833,000 after acquiring an additional 986 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Evercore ISI lifted their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Barclays increased their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Raymond James reissued a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.93.

Abbott Laboratories Stock Performance

NYSE ABT opened at $116.78 on Wednesday. The stock has a market capitalization of $202.55 billion, a PE ratio of 35.50, a P/E/G ratio of 2.43 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The business has a 50 day simple moving average of $114.87 and a two-hundred day simple moving average of $112.95. 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 Increases Dividend

The firm also recently declared 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 an increase 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 dividend on an annualized basis and a yield of 2.02%. Abbott Laboratories’s dividend payout ratio is presently 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.