Pine Haven Investment Counsel Inc Increases Holdings in Abbott Laboratories (NYSE:ABT)

Pine Haven Investment Counsel Inc lifted its position in Abbott Laboratories (NYSE:ABT) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 23,372 shares of the healthcare product maker’s stock after purchasing an additional 200 shares during the quarter. Abbott Laboratories accounts for approximately 2.2% of Pine Haven Investment Counsel Inc’s holdings, making the stock its 9th biggest holding. Pine Haven Investment Counsel Inc’s holdings in Abbott Laboratories were worth $2,644,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the third quarter worth about $31,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories during the third quarter worth about $32,000. Valued Wealth Advisors LLC grew its holdings in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at $32,000. Finally, Highline Wealth Partners LLC acquired a new position in Abbott Laboratories in the third quarter valued at about $37,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $113.45 on Monday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market capitalization of $196.78 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73. The company has a 50-day simple moving average of $114.93 and a 200 day simple moving average of $112.80.

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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler increased their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Oppenheimer assumed coverage on Abbott Laboratories in a 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 Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $131.57.

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.