Wendell David Associates Inc. Has $25.13 Million Stake in Abbott Laboratories (NYSE:ABT)

Wendell David Associates Inc. decreased its stake in Abbott Laboratories (NYSE:ABT) by 0.6% during the 4th quarter, HoldingsChannel reports. The firm owned 222,208 shares of the healthcare product maker’s stock after selling 1,332 shares during the period. Abbott Laboratories comprises 2.5% of Wendell David Associates Inc.’s holdings, making the stock its 9th largest position. Wendell David Associates Inc.’s holdings in Abbott Laboratories were worth $25,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Bath Savings Trust Co increased its holdings in shares of Abbott Laboratories by 3.7% during 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 purchasing an additional 5,881 shares during the period. Simplify Asset Management Inc. grew its position in 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 buying an additional 5,664 shares in the last quarter. Pensionfund Sabic bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $2,828,000. Dundas Partners LLP lifted its stake in shares of Abbott Laboratories by 2.1% in the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after acquiring an additional 6,897 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings 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 acquiring an additional 31,720 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ABT shares. Piper Sandler boosted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Mizuho increased their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. UBS Group lifted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Barclays raised their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.93.

Abbott Laboratories Trading Up 0.8 %

Shares of ABT stock opened at $117.76 on Thursday. The company has a market cap of $204.25 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.43 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. 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 business’s 50 day moving average is $114.87 and its two-hundred day moving average is $113.04.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.00%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is currently 71.73%.

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.