Abbott Laboratories $ABT is Vest Financial LLC’s 4th Largest Position

Vest Financial LLC increased its position in Abbott Laboratories (NYSE:ABT) by 23.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 728,652 shares of the healthcare product maker’s stock after buying an additional 136,352 shares during the period. Abbott Laboratories accounts for about 1.3% of Vest Financial LLC’s investment portfolio, making the stock its 4th biggest position. Vest Financial LLC’s holdings in Abbott Laboratories were worth $97,596,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Carr Financial Group Corp grew its position in Abbott Laboratories by 2.0% in the third quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock worth $520,000 after acquiring an additional 76 shares in the last quarter. Tortoise Investment Management LLC increased its position in shares of Abbott Laboratories by 10.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock valued at $108,000 after purchasing an additional 77 shares during the last quarter. Gemmer Asset Management LLC lifted its position in Abbott Laboratories by 2.9% in the third quarter. Gemmer Asset Management LLC now owns 2,750 shares of the healthcare product maker’s stock worth $368,000 after buying an additional 78 shares during the last quarter. Charles Schwab Trust Co increased its position in Abbott Laboratories by 0.6% during the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after acquiring an additional 79 shares during the last quarter. Finally, Bridgewater Advisors Inc. boosted its stake in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock worth $1,607,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $121.05 on Wednesday. The company has a market cap of $210.49 billion, a P/E ratio of 15.17, a PEG ratio of 2.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The stock’s 50-day moving average is $125.81 and its 200 day moving average is $128.74. Abbott Laboratories has a 1-year low of $113.50 and a 1-year high of $141.23.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.1%. Abbott Laboratories’s payout ratio is currently 31.58%.

Wall Street Analyst Weigh In

ABT has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their target price on Abbott Laboratories from $157.00 to $152.00 and set a “buy” rating for the company in a research report on Friday, January 9th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Benchmark initiated coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. Mizuho raised their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Finally, Daiwa Capital Markets lifted their price target on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $147.42.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.