Zhang Financial LLC Raises Stock Position in Abbott Laboratories (NYSE:ABT)

Zhang Financial LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 33.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,674 shares of the healthcare product maker’s stock after buying an additional 1,176 shares during the quarter. Zhang Financial LLC’s holdings in Abbott Laboratories were worth $529,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABT. Groupama Asset Managment raised its holdings in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories during the second quarter valued at $32,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories during the third quarter worth about $32,000. Finally, Valued Wealth Advisors LLC lifted its position in Abbott Laboratories by 78.4% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT opened at $113.45 on Tuesday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year 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 stock’s 50 day simple moving average is $114.93 and its 200-day simple moving average is $112.87. The stock has a market cap of $196.78 billion, a PE ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 66.87%.

Wall Street Analyst Weigh In

Several brokerages have commented on ABT. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Evercore ISI upped their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Jefferies Financial Group lifted their target price 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. Finally, Raymond James reissued a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

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.