Abbott Laboratories (NYSE:ABT) Stock Position Lifted by Gemmer Asset Management LLC

Gemmer Asset Management LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,049 shares of the healthcare product maker’s stock after acquiring an additional 284 shares during the period. Gemmer Asset Management LLC’s holdings in Abbott Laboratories were worth $345,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment raised its holdings in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter valued at about $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories in the second quarter worth about $32,000. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories in the third quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC grew its holdings in shares of 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 last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Down 0.4 %

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

Abbott Laboratories Increases Dividend

The firm also recently disclosed 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 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 (DPR) is 66.87%.

Analyst Ratings Changes

ABT has been the subject of a number of analyst reports. Evercore ISI boosted their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. 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. Morgan Stanley lifted their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays increased their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Company 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.