Eagle Bay Advisors LLC Sells 98 Shares of Abbott Laboratories (NYSE:ABT)

Eagle Bay Advisors LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABTFree Report) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,091 shares of the healthcare product maker’s stock after selling 98 shares during the period. Eagle Bay Advisors LLC’s holdings in Abbott Laboratories were worth $1,028,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ABT. Massachusetts Financial Services Co. MA raised its stake in shares of Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares during the period. Sessa Capital IM L.P. purchased a new stake in Abbott Laboratories in the 2nd quarter worth about $264,876,000. State Street Corp increased its holdings in Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Abbott Laboratories by 13,194.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after acquiring an additional 1,667,170 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Abbott Laboratories by 27.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after acquiring an additional 1,596,835 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

NYSE:ABT traded down $0.02 during mid-day trading on Monday, reaching $112.29. The stock had a trading volume of 1,245,717 shares, compared to its average volume of 4,292,602. The firm has a 50 day moving average price of $115.33 and a two-hundred day moving average price of $112.54. The stock has a market capitalization of $194.76 billion, a P/E ratio of 34.13, a P/E/G ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABTGet Free Report) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping 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 company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the previous year, the company posted $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

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 given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 2.10%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 71.73%.

Analyst Ratings Changes

A number of research analysts have weighed in on ABT shares. UBS Group lifted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Raymond James reaffirmed a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler Companies started coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Royal Bank of Canada lifted their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Evercore ISI lifted their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.57.

Read Our Latest Stock Analysis on Abbott Laboratories

Abbott Laboratories Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABTFree Report).

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.