Janney Capital Management LLC Cuts Holdings in Abbott Laboratories (NYSE:ABT)

Janney Capital Management LLC cut its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 21,321 shares of the healthcare product maker’s stock after selling 401 shares during the period. Janney Capital Management LLC’s holdings in Abbott Laboratories were worth $2,412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. 1832 Asset Management L.P. raised its position in Abbott Laboratories by 115.9% in the second quarter. 1832 Asset Management L.P. now owns 161,505 shares of the healthcare product maker’s stock valued at $16,782,000 after purchasing an additional 86,707 shares during the period. Epoch Investment Partners Inc. grew its stake in shares of Abbott Laboratories by 1.7% in the second quarter. Epoch Investment Partners Inc. now owns 60,703 shares of the healthcare product maker’s stock valued at $6,308,000 after buying an additional 988 shares in the last quarter. Certified Advisory Corp purchased a new stake in shares of Abbott Laboratories during the 2nd quarter valued at about $622,000. Resources Management Corp CT ADV lifted its position in Abbott Laboratories by 0.9% during the 2nd quarter. Resources Management Corp CT ADV now owns 60,727 shares of the healthcare product maker’s stock worth $6,310,000 after acquiring an additional 522 shares in the last quarter. Finally, Providence Capital Advisors LLC grew its position in Abbott Laboratories by 0.8% in the second quarter. Providence Capital Advisors LLC now owns 61,846 shares of the healthcare product maker’s stock valued at $6,426,000 after acquiring an additional 474 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.9 %

Shares of Abbott Laboratories stock opened at $115.74 on Wednesday. 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 has a fifty day simple moving average of $114.87 and a 200-day simple moving average of $113.04. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The firm has a market cap of $200.75 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 2.43 and a beta of 0.73.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11,029,400 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. On average, equities analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business 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 $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.04%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ABT shares. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Piper Sandler boosted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Oppenheimer initiated coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Barclays increased their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.93.

Read Our Latest Stock Report on ABT

Abbott Laboratories Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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