Abbott Laboratories (NYSE:ABT) Holdings Decreased by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 47,155 shares of the healthcare product maker’s stock after selling 941 shares during the period. Abbott Laboratories makes up about 2.5% of Arbor Trust Wealth Advisors LLC’s portfolio, making the stock its 13th biggest position. Arbor Trust Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $5,334,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories during the 3rd quarter valued at $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories during the third quarter valued at $32,000. Valued Wealth Advisors LLC increased its position in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $32,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ABT shares. Evercore ISI raised 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. Sanford C. Bernstein upped their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Piper Sandler raised their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Barclays upped their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” 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 company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Trading Down 0.4 %

Shares of ABT stock opened at $113.45 on Friday. The firm has a market capitalization of $196.78 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The firm’s fifty day simple moving average is $114.93 and its 200 day simple moving average is $112.73. 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 (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This is a boost 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 yield of 2.08%. Abbott Laboratories’s dividend payout ratio is 66.87%.

About Abbott Laboratories

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.