Abbott Laboratories (NYSE:ABT) Shares Sold by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. cut its position in shares of Abbott Laboratories (NYSE:ABT) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,632 shares of the healthcare product maker’s stock after selling 385 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Abbott Laboratories were worth $2,334,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new position in shares of Abbott Laboratories in the second quarter worth $7,242,000. Achmea Investment Management B.V. raised its holdings in shares of Abbott Laboratories by 1.1% in the second quarter. Achmea Investment Management B.V. now owns 115,277 shares of the healthcare product maker’s stock worth $11,979,000 after acquiring an additional 1,281 shares during the last quarter. Main Street Financial Solutions LLC raised its holdings in shares of Abbott Laboratories by 1.2% in the second quarter. Main Street Financial Solutions LLC now owns 11,137 shares of the healthcare product maker’s stock worth $1,157,000 after acquiring an additional 135 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Abbott Laboratories by 3.9% in the second quarter. Oppenheimer & Co. Inc. now owns 100,109 shares of the healthcare product maker’s stock worth $10,402,000 after acquiring an additional 3,744 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in shares of Abbott Laboratories by 27.1% in the second quarter. Meeder Advisory Services Inc. now owns 28,732 shares of the healthcare product maker’s stock worth $2,986,000 after acquiring an additional 6,134 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $112.34 on Friday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The business has a 50-day moving average of $115.33 and a 200-day moving average of $112.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market capitalization of $194.85 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post 4.67 EPS 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. Investors of record on Wednesday, January 15th will be paid a $0.59 dividend. 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. This represents a $2.36 annualized dividend and a dividend yield of 2.10%. Abbott Laboratories’s payout ratio is 71.73%.

Analysts Set New Price Targets

ABT has been the subject of a number of recent analyst reports. Oppenheimer initiated coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Barclays lifted their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler lifted 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. Morgan Stanley lifted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Raymond James reaffirmed a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.57.

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.