Abbott Laboratories $ABT Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.6% during the third quarter, Holdings Channel reports. The institutional investor owned 255,880 shares of the healthcare product maker’s stock after purchasing an additional 6,425 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Abbott Laboratories were worth $25,289,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ABT. Jeppson Wealth Management LLC increased its holdings in Abbott Laboratories by 4.0% during the 3rd quarter. Jeppson Wealth Management LLC now owns 15,382 shares of the healthcare product maker’s stock valued at $1,520,000 after purchasing an additional 589 shares during the period. CFS Investment Advisory Services LLC lifted its position in Abbott Laboratories by 7.4% during the third quarter. CFS Investment Advisory Services LLC now owns 17,930 shares of the healthcare product maker’s stock valued at $1,760,000 after buying an additional 1,230 shares during the period. Warwick Investment Management Inc. purchased a new position in Abbott Laboratories during the 3rd quarter valued at about $215,000. Smithbridge Asset Management Inc. DE lifted its holdings in shares of Abbott Laboratories by 6.3% during the third quarter. Smithbridge Asset Management Inc. DE now owns 48,595 shares of the healthcare product maker’s stock valued at $4,803,000 after purchasing an additional 2,901 shares during the last quarter. Finally, Ramsay Stattman Vela & Price Inc. boosted its holdings in Abbott Laboratories by 1.6% in the third quarter. Ramsay Stattman Vela & Price Inc. now owns 106,634 shares of the healthcare product maker’s stock worth $10,539,000 after acquiring an additional 1,692 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings upgraded shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. UBS Group lowered their price target on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. JPMorgan Chase & Co. increased their price objective on shares of Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 target price on shares of Abbott Laboratories in a research report on Friday, July 17th. Finally, BTIG Research lifted their price target on shares of Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.88.

Abbott Laboratories Trading Down 0.7%

Shares of Abbott Laboratories stock opened at $104.14 on Tuesday. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $132.02. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $105.82 and a 200-day moving average price of $98.30. The firm has a market cap of $180.19 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.94 and a beta of 0.59.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio is 81.55%.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.