West Oak Capital LLC Raises Stock Position in Abbott Laboratories (NYSE:ABT)

West Oak Capital LLC grew its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,564 shares of the healthcare product maker’s stock after purchasing an additional 215 shares during the period. Abbott Laboratories makes up 1.0% of West Oak Capital LLC’s investment portfolio, making the stock its 21st largest holding. West Oak Capital LLC’s holdings in Abbott Laboratories were worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ABT. Massachusetts Financial Services Co. MA grew its stake in shares of Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after buying an additional 2,711,586 shares during the last quarter. Sessa Capital IM L.P. purchased a new stake in shares of Abbott Laboratories in the second quarter worth $264,876,000. State Street Corp grew its position in Abbott Laboratories by 3.1% during the 3rd 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. International Assets Investment Management LLC increased its stake in 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 valued at $191,515,000 after purchasing an additional 1,667,170 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Abbott Laboratories by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock valued at $771,940,000 after purchasing an additional 1,596,835 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.7 %

Shares of ABT opened at $113.12 on Tuesday. The company’s fifty day moving average is $115.23 and its 200 day moving average is $112.60. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The stock has a market capitalization of $196.20 billion, a PE ratio of 34.38, a P/E/G ratio of 2.69 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 (NYSE:ABTGet Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared 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 is a boost 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 2.09%. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

Analyst Ratings Changes

A number of analysts have weighed in on ABT shares. Barclays raised their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler lifted 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. Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.57.

View Our Latest Analysis on Abbott Laboratories

About Abbott Laboratories

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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