Abbott Laboratories (NYSE:ABT) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 107,433 shares of the healthcare product maker’s stock after selling 600 shares during the quarter. Meyer Handelman Co.’s holdings in Abbott Laboratories were worth $12,152,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Insight Folios Inc boosted its position in shares of Abbott Laboratories by 3.3% in the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after acquiring an additional 87 shares during the last quarter. Sfmg LLC raised its stake in Abbott Laboratories by 1.9% during the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after purchasing an additional 88 shares during the period. Boltwood Capital Management boosted its holdings in shares of Abbott Laboratories by 0.4% in the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after purchasing an additional 89 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after buying an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners raised its position in shares of Abbott Laboratories by 8.7% in the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after buying an additional 89 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.2 %

Shares of Abbott Laboratories stock opened at $112.97 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. 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 $115.14 and a 200-day moving average of $112.67. The company has a market capitalization of $195.94 billion, a PE ratio of 34.34, a P/E/G ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. As a group, equities analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business 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 represents a $2.36 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 71.73%.

Analyst Ratings Changes

ABT has been the subject of a number of research reports. Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Barclays increased their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, Evercore ISI lifted their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.