Planned Solutions Inc. Reduces Holdings in Abbott Laboratories (NYSE:ABT)

Planned Solutions Inc. lowered its stake in Abbott Laboratories (NYSE:ABT) by 9.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,141 shares of the healthcare product maker’s stock after selling 215 shares during the quarter. Planned Solutions Inc.’s holdings in Abbott Laboratories were worth $242,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Groupama Asset Managment raised its holdings in Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at about $31,000. Peterson Financial Group Inc. purchased a new stake in shares of Abbott Laboratories during the third quarter worth about $32,000. Valued Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new position in Abbott Laboratories during the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday. Piper Sandler lifted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Morgan Stanley increased their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, 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 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.93.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $116.78 on Wednesday. The business has a fifty day moving average price of $114.87 and a 200-day moving average price of $112.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market capitalization of $202.55 billion, a PE ratio of 35.50, a PEG ratio of 2.43 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. 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.