Abbott Laboratories (NYSE:ABT) is Silver Lake Advisory LLC’s 5th Largest Position

Silver Lake Advisory LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,232 shares of the healthcare product maker’s stock after selling 559 shares during the quarter. Abbott Laboratories comprises about 2.8% of Silver Lake Advisory LLC’s holdings, making the stock its 5th biggest holding. Silver Lake Advisory LLC’s holdings in Abbott Laboratories were worth $6,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its position in 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 purchasing an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Abbott Laboratories by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after acquiring an additional 488,764 shares during the last quarter. Wellington Management Group LLP grew its position in Abbott Laboratories by 1.1% in the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after acquiring an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Abbott Laboratories by 25.6% in 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 acquiring an additional 2,711,586 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Abbott Laboratories by 5.6% during the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after purchasing an additional 585,915 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $123.17 on Friday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $123.23. The stock has a market capitalization of $213.62 billion, a P/E ratio of 37.44, a P/E/G ratio of 2.50 and a beta of 0.73. The company’s 50-day moving average is $114.91 and its 200 day moving average is $113.08. 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, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11,029,400 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 EPS. On average, sell-side analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

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. This represents a $2.36 annualized dividend and a dividend yield of 1.92%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ABT. Evercore ISI increased their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday. Raymond James reissued a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $132.50.

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.