Abbott Laboratories (NYSE:ABT) Shares Purchased by Kanawha Capital Management LLC

Kanawha Capital Management LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 177,644 shares of the healthcare product maker’s stock after purchasing an additional 114 shares during the quarter. Abbott Laboratories comprises approximately 1.6% of Kanawha Capital Management LLC’s portfolio, making the stock its 16th biggest position. Kanawha Capital Management LLC’s holdings in Abbott Laboratories were worth $20,093,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ABT. State Street Corp boosted its position in shares of Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after purchasing an additional 2,323,807 shares during the period. Geode Capital Management LLC raised its stake in shares of Abbott Laboratories by 1.4% during the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after purchasing an additional 488,764 shares during the last quarter. Wellington Management Group LLP raised its position in Abbott Laboratories by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after buying an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Abbott Laboratories by 25.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Abbott Laboratories by 5.6% in the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after purchasing an additional 585,915 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on ABT shares. Wells Fargo & Company lifted their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Barclays reiterated an “overweight” rating and set a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Finally, Morgan Stanley upped their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Abbott Laboratories Trading Up 1.0 %

Abbott Laboratories stock opened at $131.83 on Friday. The firm has a 50-day moving average price of $118.34 and a two-hundred day moving average price of $115.71. The firm has a market capitalization of $228.66 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.39 and a beta of 0.75. 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 $132.50.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 earnings per share. Sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. 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 30.85%.

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.