Abbott Laboratories (NYSE:ABT) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Abbott Laboratories (NYSE:ABT) by 17.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,877 shares of the healthcare product maker’s stock after purchasing an additional 4,852 shares during the period. GAMMA Investing LLC’s holdings in Abbott Laboratories were worth $3,719,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in 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 acquiring an additional 2,711,586 shares during the period. Sessa Capital IM L.P. acquired a new stake in Abbott Laboratories in the second quarter worth about $264,876,000. State Street Corp grew its position 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 buying an additional 2,323,807 shares in the last quarter. International Assets Investment Management LLC increased its stake in Abbott Laboratories by 13,194.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after buying an additional 1,667,170 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Abbott Laboratories by 27.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock valued at $771,940,000 after acquiring an additional 1,596,835 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.3 %

NYSE ABT opened at $113.44 on Friday. The firm’s 50 day moving average price is $115.54 and its two-hundred day moving average price is $112.07. 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 has a twelve month low of $99.71 and a twelve month high of $121.64. The stock has a market cap of $196.76 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. Equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared 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 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 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ABT. Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Raymond James reissued a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, 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. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.