Live Oak Private Wealth LLC cut its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 12.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,922 shares of the healthcare product maker’s stock after selling 9,817 shares during the period. Live Oak Private Wealth LLC’s holdings in Abbott Laboratories were worth $6,073,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of ABT. Nia Impact Advisors LLC grew its position in shares of Abbott Laboratories by 2.2% during the 2nd quarter. Nia Impact Advisors LLC now owns 3,706 shares of the healthcare product maker’s stock worth $504,000 after purchasing an additional 79 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in shares of Abbott Laboratories by 9.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,031 shares of the healthcare product maker’s stock valued at $140,000 after buying an additional 88 shares during the period. Eley Financial Management Inc grew its position in Abbott Laboratories by 0.9% during the fourth quarter. Eley Financial Management Inc now owns 10,817 shares of the healthcare product maker’s stock worth $1,355,000 after buying an additional 92 shares in the last quarter. Copley Financial Group Inc. grew its position in Abbott Laboratories by 2.1% during the fourth quarter. Copley Financial Group Inc. now owns 4,435 shares of the healthcare product maker’s stock worth $556,000 after buying an additional 93 shares in the last quarter. Finally, Kelleher Financial Advisors increased its stake in Abbott Laboratories by 2.9% during the 3rd quarter. Kelleher Financial Advisors now owns 3,301 shares of the healthcare product maker’s stock worth $442,000 after acquiring an additional 93 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.
Abbott Laboratories Price Performance
ABT stock opened at $112.92 on Wednesday. The company has a market capitalization of $195.39 billion, a P/E ratio of 36.54, a PEG ratio of 2.15 and a beta of 0.59. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $137.49. The company has a fifty day moving average price of $98.51 and a 200-day moving average price of $99.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38.
Abbott Laboratories Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th were issued a $0.63 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $2.52 annualized dividend and a yield of 2.2%. Abbott Laboratories’s dividend payout ratio is presently 81.55%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on ABT. Citigroup upped their target price on Abbott Laboratories from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Bank of America dropped their price target on Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. Piper Sandler reaffirmed an “overweight” rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. BTIG Research raised their target price 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. Finally, TD Cowen restated a “buy” rating and issued a $115.00 target price on shares of Abbott Laboratories in a research report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.67.
Check Out Our Latest Analysis on ABT
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.
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