InTrack Investment Management Inc Decreases Stock Holdings in Abbott Laboratories (NYSE:ABT)

InTrack Investment Management Inc cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,657 shares of the healthcare product maker’s stock after selling 133 shares during the quarter. InTrack Investment Management Inc’s holdings in Abbott Laboratories were worth $1,431,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Edgestream Partners L.P. lifted its stake in shares of Abbott Laboratories by 506.9% during the 2nd quarter. Edgestream Partners L.P. now owns 15,987 shares of the healthcare product maker’s stock valued at $1,661,000 after buying an additional 13,353 shares in the last quarter. Intech Investment Management LLC raised its holdings in Abbott Laboratories by 10.0% during the 2nd quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker’s stock valued at $3,670,000 after acquiring an additional 3,200 shares during the period. Ieq Capital LLC lifted its position in shares of Abbott Laboratories by 2.0% during the second quarter. Ieq Capital LLC now owns 108,990 shares of the healthcare product maker’s stock worth $11,325,000 after acquiring an additional 2,154 shares in the last quarter. GM Advisory Group LLC grew its position in shares of Abbott Laboratories by 2.4% in the second quarter. GM Advisory Group LLC now owns 4,979 shares of the healthcare product maker’s stock valued at $517,000 after purchasing an additional 116 shares in the last quarter. Finally, Clifford Group LLC lifted its holdings in Abbott Laboratories by 1.8% during the 2nd quarter. Clifford Group LLC now owns 5,756 shares of the healthcare product maker’s stock worth $598,000 after purchasing an additional 103 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ABT shares. Barclays upped their price target 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 increased their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Mizuho boosted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley increased their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Evercore ISI boosted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE:ABT opened at $113.45 on Friday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $115.00 and its 200-day moving average price is $112.66. The stock has a market capitalization of $196.78 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73.

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

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 2.08%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

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.