Court Place Advisors LLC Decreases Stake in Abbott Laboratories (NYSE:ABT)

Court Place Advisors LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,046 shares of the healthcare product maker’s stock after selling 1,737 shares during the quarter. Court Place Advisors LLC’s holdings in Abbott Laboratories were worth $684,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ABT. Nilsine Partners LLC increased its holdings in Abbott Laboratories by 42.2% in the fourth quarter. Nilsine Partners LLC now owns 22,780 shares of the healthcare product maker’s stock valued at $2,577,000 after buying an additional 6,757 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in Abbott Laboratories by 3.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 9,451 shares of the healthcare product maker’s stock valued at $1,069,000 after purchasing an additional 358 shares in the last quarter. Parsons Capital Management Inc. RI raised its holdings in Abbott Laboratories by 24.7% during the fourth quarter. Parsons Capital Management Inc. RI now owns 89,311 shares of the healthcare product maker’s stock worth $10,102,000 after purchasing an additional 17,716 shares during the last quarter. Summit Financial Strategies Inc. grew its holdings in Abbott Laboratories by 13.0% in the fourth quarter. Summit Financial Strategies Inc. now owns 9,603 shares of the healthcare product maker’s stock valued at $1,086,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Heartland Bank & Trust Co increased its position in shares of Abbott Laboratories by 34.7% in the fourth quarter. Heartland Bank & Trust Co now owns 6,720 shares of the healthcare product maker’s stock valued at $760,000 after buying an additional 1,730 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research reports. Mizuho increased their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. UBS Group increased their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Piper Sandler upped their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Abbott Laboratories Stock Up 3.6 %

Shares of ABT opened at $129.51 on Tuesday. The firm has a market cap of $224.63 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average is $115.26 and its two-hundred day moving average is $113.46. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $129.76.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11,029,400 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. Analysts forecast that Abbott Laboratories will post 5.15 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.82%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 30.85%.

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.