Capital Asset Advisory Services LLC Has $3.38 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Capital Asset Advisory Services LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,732 shares of the healthcare product maker’s stock after acquiring an additional 984 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Abbott Laboratories were worth $3,384,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bath Savings Trust Co lifted its stake in Abbott Laboratories by 3.7% in the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after acquiring an additional 5,881 shares during the last quarter. Simplify Asset Management Inc. raised its position in shares of Abbott Laboratories by 67.3% in the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after purchasing an additional 5,664 shares during the period. Pensionfund Sabic bought a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $2,828,000. Sequoia Financial Advisors LLC raised its position in shares of Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after purchasing an additional 31,720 shares during the period. Finally, Tidal Investments LLC raised its position in shares of Abbott Laboratories by 30.5% in the third quarter. Tidal Investments LLC now owns 107,308 shares of the healthcare product maker’s stock valued at $12,234,000 after purchasing an additional 25,052 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 1.5 %

Shares of ABT stock opened at $125.12 on Monday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $125.67. The stock has a market cap of $217.01 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a fifty day moving average of $115.26 and a 200-day moving average of $113.39.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Abbott Laboratories will post 5.15 earnings per share for the current fiscal year.

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 issued a $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Barclays lifted their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Evercore ISI upped their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $132.50.

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.