Grove Bank & Trust Has $4.48 Million Stake in Abbott Laboratories (NYSE:ABT)

Grove Bank & Trust grew its holdings in Abbott Laboratories (NYSE:ABT) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,626 shares of the healthcare product maker’s stock after purchasing an additional 782 shares during the period. Grove Bank & Trust’s holdings in Abbott Laboratories were worth $4,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Groupama Asset Managment lifted its stake in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories during the second quarter valued at approximately $32,000. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories in the 3rd quarter valued at approximately $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 worth $33,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

Abbott Laboratories stock opened at $113.45 on Friday. The firm has a market cap of $196.78 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. The firm has a fifty day moving average price of $114.93 and a two-hundred day moving average price of $112.73. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

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

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 given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 66.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. 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 note on Thursday, October 17th. Morgan Stanley raised their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Barclays boosted 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. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Piper Sandler increased 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. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories 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.