Fulcrum Capital LLC Raises Position in Abbott Laboratories (NYSE:ABT)

Fulcrum Capital LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 2.4% in the fourth quarter, Holdings Channel reports. The fund owned 44,659 shares of the healthcare product maker’s stock after buying an additional 1,040 shares during the period. Fulcrum Capital LLC’s holdings in Abbott Laboratories were worth $5,051,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised 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 valued at $8,746,896,000 after acquiring an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC raised its holdings in Abbott Laboratories by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after acquiring an additional 488,764 shares during the last quarter. Wellington Management Group LLP raised its holdings in Abbott Laboratories by 1.1% in 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 during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Abbott Laboratories by 25.6% during 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. Finally, Fisher Asset Management LLC increased its holdings 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 buying an additional 585,915 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ABT shares. Piper Sandler raised their price target 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. Raymond James restated a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Oppenheimer started coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Sanford C. Bernstein raised their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Stock Up 0.5 %

ABT stock traded up $0.58 during midday trading on Monday, hitting $112.89. The company’s stock had a trading volume of 2,188,805 shares, compared to its average volume of 4,411,003. 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 has a 52-week low of $99.71 and a 52-week high of $121.64. The firm has a market capitalization of $195.80 billion, a P/E ratio of 34.31, a PEG ratio of 2.69 and a beta of 0.73. The firm has a 50-day simple moving average of $115.33 and a 200-day simple moving average of $112.54.

Abbott Laboratories (NYSE:ABT) last issued 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 net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter last year, the company posted $1.14 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

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