Neville Rodie & Shaw Inc. Trims Stock Position in Abbott Laboratories (NYSE:ABT)

Neville Rodie & Shaw Inc. lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 48,570 shares of the healthcare product maker’s stock after selling 300 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Abbott Laboratories were worth $5,494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABT. Groupama Asset Managment grew its position in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the second quarter worth $32,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the third quarter valued at $32,000. Finally, Valued Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.1 %

Shares of ABT stock traded up $0.09 during mid-day trading on Monday, hitting $113.92. The stock had a trading volume of 1,487,498 shares, compared to its average volume of 3,087,656. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The firm has a market capitalization of $197.59 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The firm’s 50-day moving average is $115.47 and its two-hundred day moving average is $112.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the prior year, the business earned $1.14 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid 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 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 71.73%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research analyst reports. Mizuho boosted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Evercore ISI increased their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Piper Sandler boosted their target price 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. Finally, Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

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.