Compass Wealth Management LLC Trims Stock Position in Abbott Laboratories (NYSE:ABT)

Compass Wealth Management LLC decreased its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,577 shares of the healthcare product maker’s stock after selling 825 shares during the quarter. Compass Wealth Management LLC’s holdings in Abbott Laboratories were worth $3,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ABT. State Street Corp grew its stake in shares of Abbott Laboratories by 3.1% during the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares during the period. Geode Capital Management LLC grew its holdings in shares of Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after purchasing an additional 488,764 shares during the period. Wellington Management Group LLP increased its holdings in shares of Abbott Laboratories by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after buying an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Abbott Laboratories by 5.6% in the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after buying an additional 585,915 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $125.12 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $125.67. The business has a 50 day moving average price of $115.26 and a 200 day moving average price of $113.31. The company has a market cap of $217.01 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.51 and a beta of 0.73. 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:ABTGet Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (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 $11,029,400 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 5.15 earnings per share 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 issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Wall Street Analyst Weigh In

Several research firms have commented on ABT. Evercore ISI boosted their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Mizuho lifted 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. UBS Group increased their price target on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James reaffirmed a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

Read Our Latest Stock Analysis on Abbott Laboratories

Abbott Laboratories Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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