International Assets Investment Management LLC Sells 1,665,084 Shares of Abbott Laboratories (NYSE:ABT)

International Assets Investment Management LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 99.1% during the 4th quarter, Holdings Channel reports. The fund owned 14,721 shares of the healthcare product maker’s stock after selling 1,665,084 shares during the period. International Assets Investment Management LLC’s holdings in Abbott Laboratories were worth $1,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ABT. Range Financial Group LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at $582,000. One Wealth Capital Management LLC bought a new position in Abbott Laboratories during the fourth quarter worth about $860,000. Bath Savings Trust Co raised its stake in Abbott Laboratories by 3.7% in the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after purchasing an additional 5,881 shares in the last quarter. Spartan Planning & Wealth Management bought a new stake in Abbott Laboratories in the 4th quarter valued at about $378,000. Finally, Regent Peak Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories by 2.0% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 4,873 shares of the healthcare product maker’s stock worth $551,000 after purchasing an additional 97 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ABT shares. Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler Companies started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Evercore ISI upped their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Royal Bank of Canada boosted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Price Performance

Shares of ABT opened at $114.18 on Thursday. 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 stock has a market cap of $198.04 billion, a PE ratio of 34.71, a PEG ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The business has a 50-day simple moving average of $115.43 and a two-hundred day simple moving average of $112.38.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter last year, the business earned $1.14 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm 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. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 2.07%. Abbott Laboratories’s payout ratio is currently 71.73%.

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.