Silver Lake Advisory LLC Has $6.47 Million Stake in Abbott Laboratories (NYSE:ABT)

Silver Lake Advisory LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,232 shares of the healthcare product maker’s stock after selling 559 shares during the quarter. Abbott Laboratories accounts for 2.8% of Silver Lake Advisory LLC’s portfolio, making the stock its 5th biggest holding. Silver Lake Advisory LLC’s holdings in Abbott Laboratories were worth $6,474,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ABT. Marshall Wace LLP raised its stake in shares of Abbott Laboratories by 848.8% in the second quarter. Marshall Wace LLP now owns 216,337 shares of the healthcare product maker’s stock worth $22,480,000 after purchasing an additional 193,537 shares during the last quarter. AQR Capital Management LLC lifted its position in Abbott Laboratories by 4.6% during the second quarter. AQR Capital Management LLC now owns 871,196 shares of the healthcare product maker’s stock valued at $90,421,000 after purchasing an additional 38,676 shares during the period. Ameriprise Financial Inc. grew its position in Abbott Laboratories by 5.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock worth $1,103,997,000 after purchasing an additional 508,524 shares during the period. Dundas Partners LLP raised its stake in Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after buying an additional 6,897 shares during the last quarter. Finally, DSM Capital Partners LLC boosted its stake in shares of Abbott Laboratories by 6.7% in the 2nd quarter. DSM Capital Partners LLC now owns 9,131 shares of the healthcare product maker’s stock worth $949,000 after buying an additional 570 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ABT. Morgan Stanley raised their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Barclays boosted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Evercore ISI raised their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Finally, Piper Sandler boosted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Abbott Laboratories Trading Up 4.6 %

Shares of Abbott Laboratories stock opened at $123.17 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $213.62 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 2.50 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $123.23. The business has a 50-day moving average price of $114.91 and a 200-day moving average price of $113.08.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11,029,400 billion. During the same period in the prior year, the firm earned $1.19 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. 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 1.92%. Abbott Laboratories’s payout ratio is 30.85%.

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.