Stokes Capital Advisors LLC Sells 809 Shares of Abbott Laboratories (NYSE:ABT)

Stokes Capital Advisors LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 49,577 shares of the healthcare product maker’s stock after selling 809 shares during the period. Stokes Capital Advisors LLC’s holdings in Abbott Laboratories were worth $5,608,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories during the 3rd quarter valued at about $31,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories during the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC raised its stake in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories during the second quarter worth $32,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the third quarter valued at about $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler raised their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Morgan Stanley raised their price target 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. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, UBS Group lifted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Trading Down 0.4 %

Shares of NYSE:ABT opened at $113.45 on Monday. The company has a market capitalization of $196.78 billion, a PE ratio of 34.48, a PEG ratio of 2.40 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 business has a 50 day moving average of $114.93 and a two-hundred day moving average of $112.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

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 given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

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.