ZWJ Investment Counsel Inc. Reduces Position in Abbott Laboratories (NYSE:ABT)

ZWJ Investment Counsel Inc. lowered its stake in Abbott Laboratories (NYSE:ABT) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,882 shares of the healthcare product maker’s stock after selling 421 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $5,529,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABT. Bath Savings Trust Co grew its stake in Abbott Laboratories by 3.7% during the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after purchasing an additional 5,881 shares during the last quarter. Simplify Asset Management Inc. lifted its holdings in shares of Abbott Laboratories by 67.3% during the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after purchasing an additional 5,664 shares during the period. Pensionfund Sabic purchased a new stake in Abbott Laboratories in the fourth quarter valued at approximately $2,828,000. Dundas Partners LLP raised its position in Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after buying an additional 6,897 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Abbott Laboratories by 19.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after acquiring an additional 31,720 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.4 %

ABT opened at $113.45 on Tuesday. The company has a market cap of $196.78 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The company has a 50-day moving average price of $114.93 and a 200 day moving average price of $112.87. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend 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%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ABT shares. Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Sanford C. Bernstein upped their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Raymond James reaffirmed a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Barclays boosted their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $131.57.

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.