Weatherly Asset Management L. P. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 29,368 shares of the healthcare product maker’s stock after selling 320 shares during the period. Weatherly Asset Management L. P.’s holdings in Abbott Laboratories were worth $2,551,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Abbott Laboratories by 1.8% in the 2nd quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock valued at $10,640,833,000 after buying an additional 2,199,601 shares during the period. California Public Employees Retirement System increased its stake in shares of Abbott Laboratories by 26.0% in the 3rd quarter. California Public Employees Retirement System now owns 3,977,787 shares of the healthcare product maker’s stock valued at $332,821,000 after buying an additional 821,189 shares during the period. Johanson Financial Advisors Inc. increased its stake in shares of Abbott Laboratories by 8,771.1% in the 4th quarter. Johanson Financial Advisors Inc. now owns 569,791 shares of the healthcare product maker’s stock valued at $6,561,000 after buying an additional 563,368 shares during the period. Strs Ohio increased its stake in shares of Abbott Laboratories by 38.9% in the 3rd quarter. Strs Ohio now owns 1,695,340 shares of the healthcare product maker’s stock valued at $141,849,000 after buying an additional 474,836 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Abbott Laboratories by 4,460.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 451,531 shares of the healthcare product maker’s stock valued at $37,780,000 after buying an additional 441,631 shares during the period. 73.61% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ABT traded down $0.47 during midday trading on Thursday, hitting $91.39. The company had a trading volume of 388,293 shares, compared to its average volume of 4,178,869. Abbott Laboratories has a 12 month low of $68.80 and a 12 month high of $92.45. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. The stock has a market cap of $158.68 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 2.30 and a beta of 1.12. The firm has a fifty day simple moving average of $86.69 and a 200 day simple moving average of $84.74.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $0.36 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, January 14th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 50.00%.
Several equities research analysts have recently commented on ABT shares. Raymond James lifted their target price on Abbott Laboratories from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday. Guggenheim cut Abbott Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, January 2nd. Morgan Stanley raised their price target on Abbott Laboratories from $93.00 to $101.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI lowered Abbott Laboratories from an “outperform” rating to an “in-line” rating in a research report on Thursday, January 2nd. Finally, William Blair restated an “underperform” rating on shares of Abbott Laboratories in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Abbott Laboratories has a consensus rating of “Hold” and an average target price of $94.00.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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