Abbott Laboratories (NYSE:ABT) Stock Holdings Reduced by Brookmont Capital Management

Brookmont Capital Management reduced its stake in Abbott Laboratories (NYSE:ABT) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,081 shares of the healthcare product maker’s stock after selling 548 shares during the period. Abbott Laboratories accounts for about 2.5% of Brookmont Capital Management’s holdings, making the stock its 6th biggest position. Brookmont Capital Management’s holdings in Abbott Laboratories were worth $4,760,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ABT. Groupama Asset Managment increased its stake in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABT has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Evercore ISI increased their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Morgan Stanley increased their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Mizuho increased their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Piper Sandler increased their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Price Performance

NYSE:ABT opened at $113.45 on Tuesday. The firm has a market cap 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. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average is $114.93 and its two-hundred day moving average is $112.87. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is a positive change 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 presently 66.87%.

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.