Abbott Laboratories (NYSE:ABT) Shares Sold by Overbrook Management Corp

Overbrook Management Corp cut its stake in Abbott Laboratories (NYSE:ABT) by 31.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,898 shares of the healthcare product maker’s stock after selling 857 shares during the quarter. Overbrook Management Corp’s holdings in Abbott Laboratories were worth $215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Insight Folios Inc grew its holdings in Abbott Laboratories by 3.3% in the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after buying an additional 87 shares during the last quarter. Sfmg LLC boosted its position in shares of Abbott Laboratories by 1.9% in the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after acquiring an additional 88 shares during the period. Boltwood Capital Management grew its stake in shares of Abbott Laboratories by 0.4% in the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after acquiring an additional 89 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after acquiring an additional 89 shares during the period. Finally, Silicon Valley Capital Partners raised its stake in Abbott Laboratories by 8.7% during the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.4 %

Shares of NYSE:ABT opened at $113.45 on Monday. The firm has a market cap 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 quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company’s fifty day simple moving average is $114.93 and its 200 day simple moving average is $112.80.

Abbott Laboratories Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ABT. Royal Bank of Canada raised their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. UBS Group lifted their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays increased their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average 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.