Abbott Laboratories (NYSE:ABT) Shares Bought by Gemmer Asset Management LLC

Gemmer Asset Management LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 10.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,049 shares of the healthcare product maker’s stock after acquiring an additional 284 shares during the quarter. Gemmer Asset Management LLC’s holdings in Abbott Laboratories were worth $345,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Groupama Asset Managment raised its holdings in Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $32,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the 3rd quarter worth approximately $32,000. Finally, Valued Wealth Advisors LLC raised its stake in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

NYSE ABT opened at $113.45 on Monday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The stock’s 50-day moving average is $114.93 and its two-hundred day moving average is $112.80. The firm has a market cap of $196.78 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. 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 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 $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 66.87%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABT. Sanford C. Bernstein raised their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley raised their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Evercore ISI upped their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Oppenheimer started coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Finally, Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

About Abbott Laboratories

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.