Ritholtz Wealth Management Has $7.85 Million Position in Abbott Laboratories $ABT

Ritholtz Wealth Management trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 11.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,608 shares of the healthcare product maker’s stock after selling 7,270 shares during the quarter. Ritholtz Wealth Management’s holdings in Abbott Laboratories were worth $7,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in ABT. Brighton Jones LLC increased its stake in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after acquiring an additional 4,755 shares in the last quarter. Balefire LLC grew its holdings in Abbott Laboratories by 73.6% in the second quarter. Balefire LLC now owns 6,145 shares of the healthcare product maker’s stock worth $836,000 after purchasing an additional 2,606 shares during the period. Mirador Capital Partners LP increased its stake in Abbott Laboratories by 6.1% in the second quarter. Mirador Capital Partners LP now owns 2,970 shares of the healthcare product maker’s stock valued at $404,000 after purchasing an additional 171 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of Abbott Laboratories by 53.8% during the second quarter. Dynamic Advisor Solutions LLC now owns 38,392 shares of the healthcare product maker’s stock valued at $5,222,000 after purchasing an additional 13,437 shares during the period. Finally, Sivia Capital Partners LLC boosted its position in shares of Abbott Laboratories by 3.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker’s stock worth $648,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $123.49 on Friday. The business has a fifty day simple moving average of $126.10 and a two-hundred day simple moving average of $129.10. Abbott Laboratories has a 1 year low of $111.02 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The company has a market capitalization of $214.74 billion, a P/E ratio of 15.48, a P/E/G ratio of 2.07 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. Abbott Laboratories’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. On average, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be given a dividend of $0.63 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. Abbott Laboratories’s dividend payout ratio is 29.57%.

Analysts Set New Price Targets

ABT has been the topic of a number of research reports. The Goldman Sachs Group dropped their price target on Abbott Laboratories from $157.00 to $152.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Evercore ISI upped their target price on Abbott Laboratories from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday, December 29th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, November 20th. Finally, Jefferies Financial Group raised their target price on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.42.

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.