UMB Bank n.a. Trims Position in Abbott Laboratories (NYSE:ABT)

UMB Bank n.a. lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 256,392 shares of the healthcare product maker’s stock after selling 4,137 shares during the quarter. UMB Bank n.a.’s holdings in Abbott Laboratories were worth $29,000,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Insight Folios Inc grew its stake in shares of Abbott Laboratories by 3.3% during the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after purchasing an additional 87 shares during the last quarter. Sfmg LLC boosted its stake in Abbott Laboratories by 1.9% in the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after acquiring an additional 88 shares during the last quarter. Boltwood Capital Management boosted its stake in Abbott Laboratories by 0.4% in the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after acquiring an additional 89 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in Abbott Laboratories by 2.9% in the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after acquiring an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners boosted its stake in Abbott Laboratories by 8.7% in the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABT. Barclays increased 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. Royal Bank of Canada increased their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler raised their price objective 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. Raymond James restated a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Jefferies Financial Group raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Stock Performance

Shares of ABT opened at $113.45 on Monday. The firm has a 50-day moving average of $114.93 and a 200-day moving average of $112.80. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company has a market cap of $196.78 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is an increase 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 2.08%. Abbott Laboratories’s payout ratio is presently 66.87%.

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.