Abbott Laboratories (NYSE:ABT) is Tealwood Asset Management Inc.’s 9th Largest Position

Tealwood Asset Management Inc. boosted its holdings in Abbott Laboratories (NYSE:ABT) by 140.1% during the fourth quarter, HoldingsChannel reports. The fund owned 29,619 shares of the healthcare product maker’s stock after buying an additional 17,282 shares during the period. Abbott Laboratories comprises 1.4% of Tealwood Asset Management Inc.’s holdings, making the stock its 9th biggest position. Tealwood Asset Management Inc.’s holdings in Abbott Laboratories were worth $3,350,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ellenbecker Investment Group raised its position in Abbott Laboratories by 2.6% in the fourth quarter. Ellenbecker Investment Group now owns 5,202 shares of the healthcare product maker’s stock valued at $589,000 after purchasing an additional 134 shares during the period. Traveka Wealth LLC raised its holdings in Abbott Laboratories by 77.6% in the 4th quarter. Traveka Wealth LLC now owns 3,643 shares of the healthcare product maker’s stock valued at $412,000 after buying an additional 1,592 shares during the period. First Financial Corp IN lifted its position in Abbott Laboratories by 1.2% in the fourth quarter. First Financial Corp IN now owns 16,634 shares of the healthcare product maker’s stock valued at $1,881,000 after buying an additional 195 shares during the last quarter. Tsfg LLC boosted its stake in Abbott Laboratories by 12.6% during the fourth quarter. Tsfg LLC now owns 106,061 shares of the healthcare product maker’s stock worth $11,997,000 after buying an additional 11,836 shares during the period. Finally, PFW Advisors LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $2,335,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on ABT. Mizuho increased their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. UBS Group lifted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays raised their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $113.12 on Tuesday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a market cap of $196.20 billion, a P/E ratio of 34.38, a PEG ratio of 2.69 and a beta of 0.73. The firm has a fifty day moving average price of $115.23 and a 200 day moving average price of $112.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 EPS. Sell-side analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 of this dividend is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 2.09%. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

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.