Greenfield Savings Bank Sells 96 Shares of Abbott Laboratories (NYSE:ABT)

Greenfield Savings Bank lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,184 shares of the healthcare product maker’s stock after selling 96 shares during the period. Greenfield Savings Bank’s holdings in Abbott Laboratories were worth $699,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ABT. Cullen Investment Group LTD. boosted its position in Abbott Laboratories by 4.5% during the fourth quarter. Cullen Investment Group LTD. now owns 4,034 shares of the healthcare product maker’s stock valued at $456,000 after purchasing an additional 175 shares in the last quarter. Tealwood Asset Management Inc. raised its stake in shares of Abbott Laboratories by 140.1% during the 4th quarter. Tealwood Asset Management Inc. now owns 29,619 shares of the healthcare product maker’s stock worth $3,350,000 after acquiring an additional 17,282 shares in the last quarter. Ellenbecker Investment Group boosted its position in shares of Abbott Laboratories by 2.6% in the 4th quarter. Ellenbecker Investment Group now owns 5,202 shares of the healthcare product maker’s stock worth $589,000 after purchasing an additional 134 shares in the last quarter. Traveka Wealth LLC boosted its holdings in Abbott Laboratories by 77.6% in the fourth quarter. Traveka Wealth LLC now owns 3,643 shares of the healthcare product maker’s stock worth $412,000 after acquiring an additional 1,592 shares in the last quarter. Finally, First Financial Corp IN boosted its stake in Abbott Laboratories by 1.2% in the 4th quarter. First Financial Corp IN now owns 16,634 shares of the healthcare product maker’s stock worth $1,881,000 after purchasing an additional 195 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Mizuho boosted their target price 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. UBS Group upped their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. 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. Finally, Piper Sandler increased their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Trading Up 0.7 %

Shares of ABT opened at $113.12 on Tuesday. The business’s 50-day moving average price is $115.23 and its 200 day moving average price is $112.60. 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. The stock has a market capitalization of $196.20 billion, a P/E ratio of 34.38, a P/E/G ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.09%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is currently 71.73%.

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.