Compass Wealth Management LLC Has $3.23 Million Stake in Abbott Laboratories (NYSE:ABT)

Compass Wealth Management LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 2.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,577 shares of the healthcare product maker’s stock after selling 825 shares during the quarter. Compass Wealth Management LLC’s holdings in Abbott Laboratories were worth $3,232,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABT. State Street Corp raised its holdings in shares of 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 worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $3,963,974,000 after acquiring an additional 488,764 shares during the last quarter. Wellington Management Group LLP lifted 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 buying an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 valued at $1,518,539,000 after buying an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Abbott Laboratories by 5.6% in the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after purchasing an additional 585,915 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.5 %

NYSE ABT opened at $125.12 on Friday. The firm has a 50 day simple moving average of $115.26 and a 200-day simple moving average of $113.31. 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 firm has a market cap of $217.01 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a one year low of $99.71 and a one year high of $125.67.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. During the same quarter last year, the company posted $1.19 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 5.15 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Analyst Ratings Changes

Several analysts have issued reports on ABT shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday. Barclays boosted their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler boosted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Abbott Laboratories 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.