Abbott Laboratories (NYSE:ABT) Stock Position Raised by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,939 shares of the healthcare product maker’s stock after buying an additional 2,179 shares during the quarter. Abbott Laboratories makes up about 1.4% of Cyndeo Wealth Partners LLC’s investment portfolio, making the stock its 9th largest holding. Cyndeo Wealth Partners LLC’s holdings in Abbott Laboratories were worth $20,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. apricus wealth LLC increased its holdings in Abbott Laboratories by 17.9% in the fourth quarter. apricus wealth LLC now owns 4,594 shares of the healthcare product maker’s stock valued at $520,000 after buying an additional 699 shares during the last quarter. Gradient Investments LLC raised its position in shares of Abbott Laboratories by 1.4% during the 4th quarter. Gradient Investments LLC now owns 280,294 shares of the healthcare product maker’s stock valued at $31,704,000 after acquiring an additional 3,772 shares in the last quarter. Curated Wealth Partners LLC lifted its position in shares of Abbott Laboratories by 13.8% in the 4th quarter. Curated Wealth Partners LLC now owns 15,609 shares of the healthcare product maker’s stock worth $1,766,000 after buying an additional 1,889 shares during the last quarter. CX Institutional grew its position in shares of Abbott Laboratories by 14.4% during the 4th quarter. CX Institutional now owns 14,243 shares of the healthcare product maker’s stock valued at $1,611,000 after buying an additional 1,790 shares during the last quarter. Finally, Encompass More Asset Management raised its stake in Abbott Laboratories by 17.5% during the fourth quarter. Encompass More Asset Management now owns 3,936 shares of the healthcare product maker’s stock worth $445,000 after acquiring an additional 587 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ABT shares. UBS Group upped their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus lifted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday. Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, Mizuho upped their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $132.50.

Abbott Laboratories Trading Up 1.5 %

Abbott Laboratories stock opened at $125.12 on Friday. The firm has a market cap of $217.01 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $125.67. The firm’s 50 day moving average price is $115.26 and its two-hundred day moving average price is $113.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11,029,400 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. On average, research analysts predict that Abbott Laboratories will post 5.15 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company 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 $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 30.85%.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.