Abbott Laboratories (NYSE:ABT) Stock Holdings Reduced by Enterprise Bank & Trust Co

Enterprise Bank & Trust Co trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,103 shares of the healthcare product maker’s stock after selling 153 shares during the quarter. Abbott Laboratories makes up about 1.0% of Enterprise Bank & Trust Co’s investment portfolio, making the stock its 25th largest holding. Enterprise Bank & Trust Co’s holdings in Abbott Laboratories were worth $3,179,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ABT. State Street Corp grew 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 acquiring an additional 2,323,807 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after purchasing an additional 488,764 shares in the last quarter. Wellington Management Group LLP raised its holdings in Abbott Laboratories by 1.1% during the third 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 buying an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position 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 buying an additional 2,711,586 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Abbott Laboratories by 5.6% during the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after acquiring 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 ABT traded up $0.61 during trading hours on Monday, hitting $112.92. The stock had a trading volume of 2,234,616 shares, compared to its average volume of 4,431,758. The stock has a market capitalization of $195.85 billion, a price-to-earnings ratio of 34.32, a P/E/G 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 current ratio of 1.60 and a quick ratio of 1.14. The company’s fifty day moving average is $115.33 and its two-hundred day moving average is $112.54.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results 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. 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 period in the prior year, the company earned $1.14 EPS. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 2.09%. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Oppenheimer began coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Mizuho lifted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein upped their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.