Abbott Laboratories (NYSE:ABT) Shares Sold by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 1.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,632 shares of the healthcare product maker’s stock after selling 385 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Abbott Laboratories were worth $2,334,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABT. Jupiter Asset Management Ltd. acquired a new stake in Abbott Laboratories during the second quarter valued at approximately $7,242,000. Achmea Investment Management B.V. raised its stake in Abbott Laboratories by 1.1% during the second quarter. Achmea Investment Management B.V. now owns 115,277 shares of the healthcare product maker’s stock valued at $11,979,000 after buying an additional 1,281 shares in the last quarter. Main Street Financial Solutions LLC raised its stake in Abbott Laboratories by 1.2% during the second quarter. Main Street Financial Solutions LLC now owns 11,137 shares of the healthcare product maker’s stock valued at $1,157,000 after buying an additional 135 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Abbott Laboratories by 3.9% during the second quarter. Oppenheimer & Co. Inc. now owns 100,109 shares of the healthcare product maker’s stock valued at $10,402,000 after buying an additional 3,744 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its stake in Abbott Laboratories by 27.1% during the second quarter. Meeder Advisory Services Inc. now owns 28,732 shares of the healthcare product maker’s stock valued at $2,986,000 after buying an additional 6,134 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Evercore ISI increased their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Mizuho increased 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. Barclays increased their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $112.34 on Friday. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The stock has a fifty day moving average of $115.33 and a 200-day moving average of $112.44. The company has a market capitalization of $194.85 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 2.69 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 announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm 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. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.10%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

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.