Abbott Laboratories (NYSE:ABT) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. reduced its position in Abbott Laboratories (NYSE:ABT) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,153 shares of the healthcare product maker’s stock after selling 387 shares during the period. Abbott Laboratories comprises about 0.8% of Cornell Pochily Investment Advisors Inc.’s portfolio, making the stock its 29th biggest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Abbott Laboratories were worth $2,393,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Abbott Laboratories by 3.1% during the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares in the last quarter. Geode Capital Management LLC raised its holdings in Abbott Laboratories by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after purchasing an additional 488,764 shares during the period. Wellington Management Group LLP boosted its position in Abbott Laboratories by 1.1% during the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after purchasing an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after buying an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Abbott Laboratories by 5.6% during the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after buying an additional 585,915 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer began coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Trading Up 1.5 %

Shares of Abbott Laboratories stock opened at $125.12 on Monday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $125.67. The stock has a 50 day moving average of $115.26 and a 200 day moving average of $113.46. The firm has a market capitalization of $217.01 billion, a price-to-earnings ratio of 16.36, a PEG 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.

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

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is currently 30.85%.

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.