Tradewinds LLC. Acquires Shares of 5,685 Abbott Laboratories $ABT

Tradewinds LLC. purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,685 shares of the healthcare product maker’s stock, valued at approximately $761,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Courier Capital LLC lifted its position in Abbott Laboratories by 6.7% during the 3rd quarter. Courier Capital LLC now owns 32,395 shares of the healthcare product maker’s stock valued at $4,339,000 after purchasing an additional 2,021 shares during the period. Mizuho Markets Americas LLC raised its stake in shares of Abbott Laboratories by 18.1% during the third quarter. Mizuho Markets Americas LLC now owns 2,246 shares of the healthcare product maker’s stock worth $301,000 after buying an additional 344 shares during the last quarter. Allstate Corp boosted its stake in Abbott Laboratories by 1,541.8% in the third quarter. Allstate Corp now owns 63,244 shares of the healthcare product maker’s stock valued at $8,471,000 after acquiring an additional 59,392 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Abbott Laboratories by 5.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,411,819 shares of the healthcare product maker’s stock worth $187,800,000 after acquiring an additional 73,759 shares during the period. Finally, Inspire Advisors LLC raised its position in shares of Abbott Laboratories by 29.6% during the 3rd quarter. Inspire Advisors LLC now owns 2,130 shares of the healthcare product maker’s stock valued at $285,000 after acquiring an additional 487 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ABT. Daiwa Capital Markets lifted their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 16th. Barclays increased their price target on shares of Abbott Laboratories from $162.00 to $169.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday, December 29th. Finally, 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 report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.42.

Abbott Laboratories Price Performance

NYSE ABT opened at $121.82 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70. The stock has a market cap of $211.83 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 2.02 and a beta of 0.72. The business has a 50 day simple moving average of $126.01 and a 200 day simple moving average of $128.91. Abbott Laboratories has a 52-week low of $113.39 and a 52-week high of $141.23.

Abbott Laboratories Increases Dividend

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

Abbott Laboratories Company 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.