InTrack Investment Management Inc Has $1.43 Million Position in Abbott Laboratories (NYSE:ABT)

InTrack Investment Management Inc cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,657 shares of the healthcare product maker’s stock after selling 133 shares during the period. InTrack Investment Management Inc’s holdings in Abbott Laboratories were worth $1,431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Abbott Laboratories by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after buying an additional 488,764 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Abbott Laboratories by 1.1% during the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after acquiring an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Abbott Laboratories by 25.6% in 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 acquiring an additional 2,711,586 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Abbott Laboratories by 5.6% in the third 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 acquiring an additional 585,915 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent analyst reports. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Barclays boosted their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. UBS Group raised their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Trading Down 0.4 %

NYSE:ABT opened at $113.45 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company has a market cap of $196.78 billion, a PE ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73. The firm has a 50-day moving average of $115.00 and a 200-day moving average of $112.66.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter last year, the company earned $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a positive change 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 dividend yield of 2.08%. Abbott Laboratories’s dividend payout ratio is presently 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.