Abbott Laboratories (NYSE:ABT) Shares Purchased by Valeo Financial Advisors LLC
Valeo Financial Advisors LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 6.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,519 shares of the healthcare product maker’s stock after purchasing an additional 1,238 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Abbott Laboratories were worth $1,869,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cresset Asset Management LLC increased its position in shares of Abbott Laboratories by 20.7% during the second quarter. Cresset Asset Management LLC now owns 29,187 shares of the healthcare product maker’s stock valued at $2,455,000 after acquiring an additional 5,012 shares during the last quarter. Cadinha & Co. LLC raised its holdings in Abbott Laboratories by 0.9% during the third quarter. Cadinha & Co. LLC now owns 18,841 shares of the healthcare product maker’s stock worth $1,576,000 after purchasing an additional 166 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in Abbott Laboratories during the second quarter worth approximately $240,000. Lenox Wealth Management Inc. lifted its position in shares of Abbott Laboratories by 58.1% during the 3rd quarter. Lenox Wealth Management Inc. now owns 1,154 shares of the healthcare product maker’s stock worth $96,000 after buying an additional 424 shares during the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Abbott Laboratories by 7.8% during the 3rd quarter. AE Wealth Management LLC now owns 47,096 shares of the healthcare product maker’s stock worth $3,941,000 after buying an additional 3,401 shares during the last quarter. 73.61% of the stock is owned by institutional investors.
Abbott Laboratories stock traded down $0.29 during midday trading on Friday, hitting $90.44. 2,955,815 shares of the company’s stock were exchanged, compared to its average volume of 4,670,949. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.54. The stock has a market cap of $162.45 billion, a price-to-earnings ratio of 43.90, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. Abbott Laboratories has a 12-month low of $68.80 and a 12-month high of $92.45. The firm’s 50 day simple moving average is $86.80 and its 200 day simple moving average is $84.76.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, January 14th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s payout ratio is 44.44%.
A number of research analysts recently commented on ABT shares. Wells Fargo & Co increased their target price on shares of Abbott Laboratories from $97.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI cut shares of Abbott Laboratories from an “outperform” rating to an “in-line” rating in a research report on Thursday, January 2nd. UBS Group boosted their price target on shares of Abbott Laboratories from $99.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday. ValuEngine lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Guggenheim lowered Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $95.20.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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