Godsey & Gibb Inc. Has $352,000 Stake in Abbott Laboratories (NYSE:ABT)

Godsey & Gibb Inc. lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,109 shares of the healthcare product maker’s stock after selling 92 shares during the quarter. Godsey & Gibb Inc.’s holdings in Abbott Laboratories were worth $352,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised 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 buying an additional 2,711,586 shares in the last quarter. Sessa Capital IM L.P. acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $264,876,000. State Street Corp lifted its holdings in Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. International Assets Investment Management LLC boosted its position in Abbott Laboratories by 13,194.9% during the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after purchasing an additional 1,667,170 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Abbott Laboratories by 13.7% during the third 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 last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on ABT shares. Raymond James reaffirmed a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. UBS Group upped their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Oppenheimer started 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. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Finally, Royal Bank of Canada upped their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Four 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Stock Down 1.8 %

Shares of ABT opened at $110.96 on Thursday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The stock has a market cap of $192.46 billion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 2.69 and a beta of 0.73. The company has a 50-day moving average price of $115.14 and a two-hundred day moving average price of $112.67. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company 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. 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. This represents a $2.36 annualized dividend and a dividend yield of 2.13%. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

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.