Waverly Advisors LLC lifted its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 16.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,054 shares of the healthcare product maker’s stock after buying an additional 17,977 shares during the period. Waverly Advisors LLC’s holdings in Abbott Laboratories were worth $13,147,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nia Impact Advisors LLC lifted its stake in Abbott Laboratories by 2.2% in the second quarter. Nia Impact Advisors LLC now owns 3,706 shares of the healthcare product maker’s stock valued at $504,000 after buying an additional 79 shares during the last quarter. Clayton Financial Group LLC increased its holdings in shares of Abbott Laboratories by 1.4% in the 4th quarter. Clayton Financial Group LLC now owns 6,217 shares of the healthcare product maker’s stock valued at $779,000 after acquiring an additional 84 shares during the period. Jamison Private Wealth Management Inc. raised its position in Abbott Laboratories by 0.5% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 15,854 shares of the healthcare product maker’s stock valued at $1,986,000 after purchasing an additional 85 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in Abbott Laboratories by 3.9% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,287 shares of the healthcare product maker’s stock worth $287,000 after purchasing an additional 85 shares during the period. Finally, Riggs Asset Managment Co. Inc. boosted its stake in Abbott Laboratories by 9.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,031 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 88 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories Trading Up 0.1%
NYSE ABT opened at $103.13 on Monday. The stock has a market capitalization of $179.63 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.00 and a beta of 0.61. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $137.49. The firm has a 50-day moving average price of $91.61 and a 200 day moving average price of $101.16. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56.
Abbott Laboratories Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 81.55%.
Analysts Set New Price Targets
A number of research firms have commented on ABT. Oppenheimer dropped their price objective on shares of Abbott Laboratories from $132.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Citigroup raised their price target on Abbott Laboratories from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 price target on shares of Abbott Laboratories in a research report on Friday, July 17th. UBS Group decreased their price objective on Abbott Laboratories from $158.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, Evercore dropped their target price on Abbott Laboratories from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $118.61.
Get Our Latest Analysis on Abbott Laboratories
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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