Douglas Lane & Associates LLC Has $1.75 Million Holdings in Abbott Laboratories (NYSE:ABT)

Douglas Lane & Associates LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,466 shares of the healthcare product maker’s stock after selling 158 shares during the period. Douglas Lane & Associates LLC’s holdings in Abbott Laboratories were worth $1,749,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ABT. State Street Corp lifted its position 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 purchasing an additional 2,323,807 shares during the period. 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 period. Wellington Management Group LLP boosted its position in shares of Abbott Laboratories by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock valued at $2,942,709,000 after acquiring an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position 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 worth $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake 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 worth $1,265,762,000 after purchasing an additional 585,915 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.7 %

NYSE ABT opened at $114.18 on Thursday. The stock has a market capitalization of $198.04 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock has a fifty day moving average of $115.43 and a 200-day moving average of $112.38.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. On average, equities research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $0.59 dividend. The ex-dividend date 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 yield of 2.07%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 71.73%.

Analysts Set New Price Targets

ABT has been the subject of a number of recent research reports. Mizuho increased their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley lifted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Barclays lifted their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler raised 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. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

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.