Beaumont Financial Advisors LLC Sells 115 Shares of Abbott Laboratories (NYSE:ABT)

Beaumont Financial Advisors LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.2% during the 4th quarter, HoldingsChannel reports. The firm owned 73,493 shares of the healthcare product maker’s stock after selling 115 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Abbott Laboratories were worth $8,313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABT. Massachusetts Financial Services Co. MA boosted its holdings in Abbott Laboratories by 25.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. Sessa Capital IM L.P. bought a new position in Abbott Laboratories in the 2nd quarter worth approximately $264,876,000. State Street Corp lifted its stake in shares of Abbott Laboratories by 3.1% during the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after acquiring an additional 2,323,807 shares during the period. International Assets Investment Management LLC grew its position in shares of Abbott Laboratories by 13,194.9% during 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 buying an additional 1,667,170 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Abbott Laboratories by 13.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock valued at $1,144,818,000 after purchasing an additional 1,180,040 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABT. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday. Piper Sandler increased their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Raymond James reissued a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Finally, Evercore ISI increased their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.93.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $116.78 on Wednesday. The stock has a fifty day moving average of $114.87 and a 200-day moving average of $112.95. The stock has a market capitalization of $202.55 billion, a P/E ratio of 35.50, a price-to-earnings-growth ratio of 2.43 and a beta of 0.73. 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 has a 52 week low of $99.71 and a 52 week high of $121.64.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 71.73%.

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.