Hummer Financial Advisory Services Inc Decreases Stock Position in Abbott Laboratories (NYSE:ABT)

Hummer Financial Advisory Services Inc lowered its position in Abbott Laboratories (NYSE:ABT) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,840 shares of the healthcare product maker’s stock after selling 100 shares during the quarter. Abbott Laboratories makes up 0.7% of Hummer Financial Advisory Services Inc’s investment portfolio, making the stock its 29th biggest position. Hummer Financial Advisory Services Inc’s holdings in Abbott Laboratories were worth $887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bath Savings Trust Co grew its stake in Abbott Laboratories by 3.7% in the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after purchasing an additional 5,881 shares in the last quarter. Simplify Asset Management Inc. boosted its holdings in shares of Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after buying an additional 5,664 shares during the period. Dundas Partners LLP grew its position in shares of Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after buying an additional 6,897 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after acquiring an additional 31,720 shares during the last quarter. Finally, Pensionfund Sabic acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $2,828,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABT has been the topic of several analyst reports. UBS Group increased their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Piper Sandler boosted 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. Evercore ISI lifted their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Piper Sandler Companies began coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Finally, Barclays boosted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Trading Up 0.7 %

Shares of NYSE:ABT opened at $113.12 on Tuesday. The stock has a market capitalization of $196.20 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The company has a 50 day moving average price of $115.23 and a 200 day moving average price of $112.60. 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 issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. On average, research analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

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

Abbott Laboratories Company Profile

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.