Trueblood Wealth Management LLC Has $675,000 Holdings in Abbott Laboratories (NYSE:ABT)

Trueblood Wealth Management LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,966 shares of the healthcare product maker’s stock after buying an additional 378 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Abbott Laboratories were worth $675,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Pine Haven Investment Counsel Inc raised its position in shares of Abbott Laboratories by 0.9% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 23,372 shares of the healthcare product maker’s stock worth $2,644,000 after acquiring an additional 200 shares in the last quarter. LVW Advisors LLC increased its holdings in Abbott Laboratories by 45.0% in the fourth quarter. LVW Advisors LLC now owns 11,440 shares of the healthcare product maker’s stock worth $1,294,000 after purchasing an additional 3,552 shares in the last quarter. City Holding Co. boosted its holdings in shares of Abbott Laboratories by 0.6% during the 4th quarter. City Holding Co. now owns 41,958 shares of the healthcare product maker’s stock worth $4,746,000 after buying an additional 266 shares in the last quarter. Annex Advisory Services LLC grew its position in shares of Abbott Laboratories by 4.5% during the 4th quarter. Annex Advisory Services LLC now owns 73,028 shares of the healthcare product maker’s stock worth $8,260,000 after buying an additional 3,177 shares during the period. Finally, Hall Laurie J Trustee increased its stake in shares of Abbott Laboratories by 1.7% in the 4th quarter. Hall Laurie J Trustee now owns 64,543 shares of the healthcare product maker’s stock valued at $7,300,000 after acquiring an additional 1,081 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of research reports. Evercore ISI raised their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Raymond James restated a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Piper Sandler lifted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Mizuho boosted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Stock Performance

NYSE ABT opened at $113.45 on Monday. The company 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 has a 52-week low of $99.71 and a 52-week high of $121.64. The company has a fifty day moving average of $114.93 and a 200-day moving average of $112.80.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Abbott Laboratories Company 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.