Gateway Wealth Partners LLC raised its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 994.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,995 shares of the healthcare product maker’s stock after acquiring an additional 21,802 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Abbott Laboratories were worth $2,463,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Freemont Management S.A. lifted its position in Abbott Laboratories by 197.2% during the fourth quarter. Freemont Management S.A. now owns 10,700 shares of the healthcare product maker’s stock valued at $1,341,000 after acquiring an additional 7,100 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in Abbott Laboratories in the fourth quarter worth $116,580,000. Thrivent Financial for Lutherans increased its position in shares of Abbott Laboratories by 24.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 246,586 shares of the healthcare product maker’s stock worth $30,931,000 after purchasing an additional 48,286 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Abbott Laboratories by 2.1% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 671,743 shares of the healthcare product maker’s stock valued at $84,163,000 after purchasing an additional 13,543 shares during the last quarter. Finally, Aureus Asset Management LLC boosted its position in shares of Abbott Laboratories by 25.0% in the 1st quarter. Aureus Asset Management LLC now owns 331,920 shares of the healthcare product maker’s stock worth $34,078,000 after purchasing an additional 66,422 shares in the last quarter. 75.18% of the stock is owned by institutional investors.
Abbott Laboratories Stock Performance
ABT opened at $104.61 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49. The firm has a 50 day moving average of $91.95 and a two-hundred day moving average of $100.99. The firm has a market capitalization of $182.20 billion, a PE ratio of 33.85, a P/E/G ratio of 2.00 and a beta of 0.61.
Abbott Laboratories Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 15th. Abbott Laboratories’s payout ratio is 81.55%.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Evercore reduced their target price on Abbott Laboratories from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Jefferies Financial Group lowered their price target on Abbott Laboratories from $145.00 to $135.00 and set a “buy” rating for the company in a report on Friday, April 17th. Royal Bank Of Canada restated an “outperform” rating and set a $130.00 price objective on shares of Abbott Laboratories in a report on Friday, July 17th. Raymond James Financial decreased their price objective on shares of Abbott Laboratories from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Finally, Weiss Ratings downgraded shares of Abbott Laboratories from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.61.
Check Out Our Latest Stock Report 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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