Purus Wealth Management LLC Sells 1,269 Shares of Abbott Laboratories (NYSE:ABT)

Purus Wealth Management LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 16.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,470 shares of the healthcare product maker’s stock after selling 1,269 shares during the quarter. Purus Wealth Management LLC’s holdings in Abbott Laboratories were worth $732,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABT. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories in the 3rd quarter valued at $31,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories in the third quarter valued at about $32,000. Valued Wealth Advisors LLC lifted its position in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories during the 2nd quarter worth about $32,000. Finally, Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $113.45 on Monday. 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 12-month low of $99.71 and a 12-month high of $121.64. The firm has a fifty day moving average of $114.93 and a 200-day moving average of $112.80. The firm has a market capitalization of $196.78 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 66.87%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABT. Evercore ISI increased their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Mizuho increased their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler upped their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays lifted their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Raymond James restated a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.