Tributary Capital Management LLC Sells 210 Shares of Abbott Laboratories (NYSE:ABT)

Tributary Capital Management LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 3.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,612 shares of the healthcare product maker’s stock after selling 210 shares during the quarter. Tributary Capital Management LLC’s holdings in Abbott Laboratories were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in shares of 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 worth $1,518,539,000 after purchasing an additional 2,711,586 shares during the last quarter. Sessa Capital IM L.P. bought a new position in shares of Abbott Laboratories during the second quarter valued at approximately $264,876,000. State Street Corp lifted its stake in Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the period. International Assets Investment Management LLC boosted its holdings in Abbott Laboratories by 13,194.9% in the third 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 acquiring an additional 1,667,170 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Abbott Laboratories by 13.7% during 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. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.5 %

ABT stock opened at $125.12 on Friday. The business’s 50-day moving average is $115.26 and its two-hundred day moving average is $113.31. The company has a market cap of $217.01 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $125.67. 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:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11,029,400 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts forecast that Abbott Laboratories will post 5.15 earnings per share for the current year.

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 boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABT. Piper Sandler lifted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays raised their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

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.