Chesapeake Wealth Management Sells 254 Shares of Abbott Laboratories (NYSE:ABT)

Chesapeake Wealth Management trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,010 shares of the healthcare product maker’s stock after selling 254 shares during the period. Chesapeake Wealth Management’s holdings in Abbott Laboratories were worth $680,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the 3rd quarter worth $31,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories in the 3rd quarter worth $32,000. Valued Wealth Advisors LLC lifted its holdings in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories in the 2nd quarter worth $32,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Abbott Laboratories in the 3rd quarter worth $37,000. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ABT. Morgan Stanley raised their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Piper Sandler raised their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, UBS Group raised their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Trading Down 0.4 %

Shares of Abbott Laboratories stock opened at $113.45 on Tuesday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The stock’s 50-day simple moving average is $114.93 and its 200 day simple moving average is $112.87. The stock has a market capitalization of $196.78 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. 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 Increases Dividend

The company 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 $0.59 dividend. 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 yield of 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

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.