Abbott Laboratories $ABT Shares Acquired by First Interstate Bank

First Interstate Bank increased its holdings in Abbott Laboratories (NYSE:ABT) by 84.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,959 shares of the healthcare product maker’s stock after buying an additional 21,101 shares during the period. First Interstate Bank’s holdings in Abbott Laboratories were worth $6,156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Carr Financial Group Corp increased its stake in shares of Abbott Laboratories by 2.0% during the 3rd quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock worth $520,000 after purchasing an additional 76 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in 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 buying an additional 77 shares during the last quarter. Gemmer Asset Management LLC increased its position in Abbott Laboratories by 2.9% during 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 in the last quarter. Charles Schwab Trust Co raised its holdings in shares of Abbott Laboratories by 0.6% in the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after acquiring an additional 79 shares during the last quarter. Finally, Bridgewater Advisors Inc. lifted its position in shares of Abbott Laboratories by 0.6% in the second quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.6%

ABT opened at $121.05 on Wednesday. The firm has a market capitalization of $210.49 billion, a P/E ratio of 15.17, a P/E/G ratio of 2.02 and a beta of 0.72. The firm’s 50 day moving average is $125.81 and its 200-day moving average is $128.74. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 52-week low of $113.50 and a 52-week high of $141.23.

Abbott Laboratories Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ABT shares. Mizuho boosted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Sanford C. Bernstein upped their price objective on shares of Abbott Laboratories from $150.00 to $154.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Benchmark began coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price on the stock. Evercore ISI boosted their target price on Abbott Laboratories from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, Barclays boosted their price objective on shares of Abbott Laboratories from $162.00 to $169.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $147.42.

About Abbott Laboratories

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.