MBE Wealth Management LLC lessened its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 14.2% in the fourth quarter, HoldingsChannel reports. The firm owned 4,399 shares of the healthcare product maker’s stock after selling 727 shares during the period. MBE Wealth Management LLC’s holdings in Abbott Laboratories were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in ABT. Bath Savings Trust Co grew its position in shares of Abbott Laboratories by 3.7% during the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after acquiring an additional 5,881 shares during the period. Simplify Asset Management Inc. grew its position in shares of Abbott Laboratories by 67.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after acquiring an additional 5,664 shares during the period. Pensionfund Sabic bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $2,828,000. Sequoia Financial Advisors LLC grew its position in shares of Abbott Laboratories by 19.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after acquiring an additional 31,720 shares during the period. Finally, Tidal Investments LLC grew its position in shares of Abbott Laboratories by 30.5% during the 3rd quarter. Tidal Investments LLC now owns 107,308 shares of the healthcare product maker’s stock valued at $12,234,000 after acquiring an additional 25,052 shares during the period. Institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Stock Up 3.6 %
ABT opened at $129.51 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $129.76. The firm has a 50-day simple moving average of $115.26 and a two-hundred day simple moving average of $113.46. The company has a market capitalization of $224.63 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.
Abbott Laboratories Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. 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 dividend on an annualized basis and a dividend yield of 1.82%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.
Wall Street Analyst Weigh In
ABT has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Barclays restated an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Mizuho lifted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $133.06.
Get Our Latest Research Report on ABT
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.
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