Abbott Laboratories (NYSE:ABT) Shares Sold by Diversify Wealth Management LLC

Diversify Wealth Management LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.3% in the 4th quarter, HoldingsChannel reports. The firm owned 16,604 shares of the healthcare product maker’s stock after selling 1,111 shares during the period. Diversify Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,865,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bath Savings Trust Co raised its holdings 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 in the last quarter. Simplify Asset Management Inc. raised its holdings in shares of Abbott Laboratories by 67.3% in the 3rd 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 in the last quarter. Pensionfund Sabic purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth $2,828,000. Dundas Partners LLP increased its holdings in Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after buying an additional 6,897 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in 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 buying an additional 31,720 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Mizuho increased their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group upped their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, Barclays raised their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Trading Down 0.4 %

Shares of Abbott Laboratories stock opened at $113.45 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $196.78 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The company’s 50-day simple moving average is $114.93 and its 200-day simple moving average is $112.87.

Abbott Laboratories Increases Dividend

The firm also recently declared 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 boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 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.