Abbott Laboratories (NYSE:ABT) is Hall Laurie J Trustee’s 9th Largest Position

Hall Laurie J Trustee raised its position in Abbott Laboratories (NYSE:ABT) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,543 shares of the healthcare product maker’s stock after purchasing an additional 1,081 shares during the quarter. Abbott Laboratories comprises 2.4% of Hall Laurie J Trustee’s investment portfolio, making the stock its 9th biggest position. Hall Laurie J Trustee’s holdings in Abbott Laboratories were worth $7,300,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Bath Savings Trust Co increased its position in shares of Abbott Laboratories by 3.7% during the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after acquiring an additional 5,881 shares during the last quarter. Simplify Asset Management Inc. increased its holdings in Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after purchasing an additional 5,664 shares during the last quarter. Pensionfund Sabic acquired a new position in Abbott Laboratories during the fourth quarter worth $2,828,000. Dundas Partners LLP boosted its position in shares of Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after buying an additional 6,897 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after buying an additional 31,720 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ABT shares. Morgan Stanley lifted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Evercore ISI upped their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Raymond James reissued a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, Piper Sandler boosted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $131.57.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $113.45 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $114.93 and a 200 day moving average price of $112.80. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a market cap of $196.78 billion, a P/E ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.08%. Abbott Laboratories’s payout ratio is 66.87%.

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.