Octavia Wealth Advisors LLC cut its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,606 shares of the healthcare product maker’s stock after selling 185 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $408,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of ABT. 1832 Asset Management L.P. increased its stake in Abbott Laboratories by 115.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 161,505 shares of the healthcare product maker’s stock worth $16,782,000 after purchasing an additional 86,707 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in Abbott Laboratories by 1.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 60,703 shares of the healthcare product maker’s stock worth $6,308,000 after purchasing an additional 988 shares in the last quarter. Certified Advisory Corp bought a new stake in Abbott Laboratories during the 2nd quarter worth approximately $622,000. Resources Management Corp CT ADV boosted its position in Abbott Laboratories by 0.9% during the 2nd quarter. Resources Management Corp CT ADV now owns 60,727 shares of the healthcare product maker’s stock worth $6,310,000 after acquiring an additional 522 shares during the last quarter. Finally, Providence Capital Advisors LLC boosted its position in Abbott Laboratories by 0.8% during the 2nd quarter. Providence Capital Advisors LLC now owns 61,846 shares of the healthcare product maker’s stock worth $6,426,000 after acquiring an additional 474 shares during the last quarter. 75.18% of the stock is owned by institutional investors.
Abbott Laboratories Stock Up 2.9 %
ABT stock opened at $116.78 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market capitalization of $202.55 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 2.43 and a beta of 0.73. The business’s fifty day moving average price is $114.87 and its two-hundred day moving average price is $112.95. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64.
Abbott Laboratories Increases Dividend
Analyst Ratings Changes
ABT has been the subject of a number of recent research reports. Evercore ISI upped their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Raymond James reaffirmed a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Piper Sandler increased their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Barclays increased their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley increased their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.93.
Get Our Latest Analysis on Abbott Laboratories
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.
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