Diversify Advisory Services LLC Decreases Position in Abbott Laboratories (NYSE:ABT)

Diversify Advisory Services LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,514 shares of the healthcare product maker’s stock after selling 1,272 shares during the period. Diversify Advisory Services LLC’s holdings in Abbott Laboratories were worth $1,630,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pine Haven Investment Counsel Inc increased its holdings in Abbott Laboratories by 0.9% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 23,372 shares of the healthcare product maker’s stock worth $2,644,000 after acquiring an additional 200 shares during the last quarter. LVW Advisors LLC increased its stake in shares of Abbott Laboratories by 45.0% in the fourth quarter. LVW Advisors LLC now owns 11,440 shares of the healthcare product maker’s stock worth $1,294,000 after purchasing an additional 3,552 shares in the last quarter. City Holding Co. raised its position in shares of Abbott Laboratories by 0.6% in the fourth quarter. City Holding Co. now owns 41,958 shares of the healthcare product maker’s stock valued at $4,746,000 after purchasing an additional 266 shares during the period. Annex Advisory Services LLC lifted its stake in shares of Abbott Laboratories by 4.5% during the 4th quarter. Annex Advisory Services LLC now owns 73,028 shares of the healthcare product maker’s stock valued at $8,260,000 after buying an additional 3,177 shares in the last quarter. Finally, Hall Laurie J Trustee grew its stake in Abbott Laboratories by 1.7% in the 4th quarter. Hall Laurie J Trustee now owns 64,543 shares of the healthcare product maker’s stock valued at $7,300,000 after buying an additional 1,081 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of analyst reports. Piper Sandler raised their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Evercore ISI lifted their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Royal Bank of Canada raised their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Finally, Morgan Stanley raised 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. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $113.45 on Tuesday. The stock has a market cap of $196.78 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. The stock’s 50-day moving average is $114.93 and its 200 day moving average is $112.87. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.08%. Abbott Laboratories’s dividend payout ratio is 66.87%.

Abbott Laboratories Company 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.