Triasima Portfolio Management inc. Has $3.60 Million Holdings in Abbott Laboratories $ABT

Triasima Portfolio Management inc. boosted its stake in Abbott Laboratories (NYSE:ABT) by 65.0% in the third quarter, Holdings Channel reports. The institutional investor owned 26,875 shares of the healthcare product maker’s stock after acquiring an additional 10,590 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Abbott Laboratories were worth $3,600,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. lifted its position in shares of Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares during the last quarter. Anfield Capital Management LLC lifted its position in Abbott Laboratories by 81.3% in the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $32,000 after purchasing an additional 104 shares during the period. Delos Wealth Advisors LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter worth about $32,000. Curio Wealth LLC increased its stake in Abbott Laboratories by 15,250.0% in the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after acquiring an additional 305 shares during the period. Finally, Pineridge Advisors LLC raised its position in Abbott Laboratories by 34.6% in the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the topic of several analyst reports. Barclays upped their price objective on Abbott Laboratories from $162.00 to $169.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. BTIG Research reiterated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Thursday, November 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Finally, Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $150.00 to $154.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $147.42.

Abbott Laboratories Price Performance

ABT opened at $121.38 on Tuesday. The company has a fifty day moving average price of $125.93 and a two-hundred day moving average price of $128.83. The firm has a market capitalization of $211.07 billion, a PE ratio of 15.19, a P/E/G ratio of 2.02 and a beta of 0.72. Abbott Laboratories has a 52 week low of $113.50 and a 52 week high of $141.23. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70.

Abbott Laboratories Increases Dividend

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

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.