Jacobs & Co. CA Sells 1,842 Shares of Abbott Laboratories (NYSE:ABT)

Jacobs & Co. CA cut its stake in Abbott Laboratories (NYSE:ABT) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 64,914 shares of the healthcare product maker’s stock after selling 1,842 shares during the period. Jacobs & Co. CA’s holdings in Abbott Laboratories were worth $7,342,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ABT. Prudential PLC lifted its position in Abbott Laboratories by 11.8% in the second quarter. Prudential PLC now owns 26,844 shares of the healthcare product maker’s stock worth $2,789,000 after buying an additional 2,830 shares during the last quarter. Andra AP fonden increased its stake in Abbott Laboratories by 15.2% in the second quarter. Andra AP fonden now owns 86,508 shares of the healthcare product maker’s stock worth $8,989,000 after purchasing an additional 11,400 shares during the period. LPL Financial LLC increased its stake in Abbott Laboratories by 8.0% in the second quarter. LPL Financial LLC now owns 1,394,423 shares of the healthcare product maker’s stock worth $144,894,000 after purchasing an additional 103,248 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Abbott Laboratories in the second quarter worth $7,242,000. Finally, Achmea Investment Management B.V. increased its stake in Abbott Laboratories by 1.1% in the second quarter. Achmea Investment Management B.V. now owns 115,277 shares of the healthcare product maker’s stock worth $11,979,000 after purchasing an additional 1,281 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock traded down $2.06 on Friday, reaching $112.19. 2,728,132 shares of the stock were exchanged, compared to its average volume of 4,408,532. 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 twelve month low of $99.71 and a twelve month high of $121.64. The firm has a market capitalization of $194.59 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.69 and a beta of 0.73. The business has a 50 day moving average price of $115.45 and a two-hundred day moving average price of $112.39.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. Analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price on the stock. Royal Bank of Canada raised their price target on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Piper Sandler raised their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays raised their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Raymond James restated a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.