Foster Group Inc. Sells 618 Shares of Abbott Laboratories (NYSE:ABT)

Foster Group Inc. trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,432 shares of the healthcare product maker’s stock after selling 618 shares during the period. Foster Group Inc.’s holdings in Abbott Laboratories were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Magnolia Capital Advisors LLC bought a new stake in shares of Abbott Laboratories in the second quarter worth about $314,000. Quarry LP increased its stake in Abbott Laboratories by 231.0% in the 2nd quarter. Quarry LP now owns 1,996 shares of the healthcare product maker’s stock worth $207,000 after acquiring an additional 1,393 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 31.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 53,288 shares of the healthcare product maker’s stock worth $5,537,000 after acquiring an additional 12,670 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $4,701,000. Finally, 3Chopt Investment Partners LLC bought a new stake in Abbott Laboratories in the second quarter worth $783,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 1.7 %

Shares of NYSE:ABT opened at $127.28 on Wednesday. The business’s 50 day moving average is $115.50 and its 200 day moving average is $113.64. The stock has a market cap of $220.76 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $129.85. 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 (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts predict that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase 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 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Evercore ISI lifted their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 21st. 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 report on Thursday, October 17th. Finally, Mizuho raised their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.