TCW Group Inc. trimmed its position in Abbott Laboratories (NYSE:ABT – Free Report) by 2.3% during the third quarter, Holdings Channel.com reports. The firm owned 24,534 shares of the healthcare product maker’s stock after selling 569 shares during the period. TCW Group Inc.’s holdings in Abbott Laboratories were worth $2,797,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of ABT. Lantz Financial LLC lifted its stake in shares of Abbott Laboratories by 5.2% during the 2nd quarter. Lantz Financial LLC now owns 5,737 shares of the healthcare product maker’s stock worth $596,000 after purchasing an additional 281 shares during the period. Fiduciary Financial Group LLC acquired a new stake in Abbott Laboratories in the 2nd quarter worth about $266,000. Miracle Mile Advisors LLC grew its holdings in Abbott Laboratories by 4.7% in the 2nd quarter. Miracle Mile Advisors LLC now owns 10,032 shares of the healthcare product maker’s stock valued at $1,042,000 after buying an additional 448 shares during the period. Brookstone Capital Management increased its stake in shares of Abbott Laboratories by 3.9% during the 2nd quarter. Brookstone Capital Management now owns 41,771 shares of the healthcare product maker’s stock valued at $4,373,000 after acquiring an additional 1,573 shares during the last quarter. Finally, Gradient Investments LLC boosted its position in shares of Abbott Laboratories by 6.5% in the second quarter. Gradient Investments LLC now owns 272,582 shares of the healthcare product maker’s stock worth $28,324,000 after acquiring an additional 16,748 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently commented on ABT. Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Barclays lifted their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler raised their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.
Abbott Laboratories Stock Performance
Shares of ABT stock opened at $113.87 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. The company’s fifty day moving average price is $116.22 and its two-hundred day moving average price is $111.04. The firm has a market capitalization of $197.50 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.72 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64.
Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings results 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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the prior year, the business posted $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.
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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