Tred Avon Family Wealth LLC Purchases Shares of 24,432 Abbott Laboratories $ABT

Tred Avon Family Wealth LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,432 shares of the healthcare product maker’s stock, valued at approximately $3,272,000. Abbott Laboratories makes up 1.1% of Tred Avon Family Wealth LLC’s portfolio, making the stock its 16th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of ABT. Norges Bank acquired a new position in Abbott Laboratories during the 2nd quarter valued at about $3,026,180,000. Laurel Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 13,347.0% during the second quarter. Laurel Wealth Advisors LLC now owns 6,056,934 shares of the healthcare product maker’s stock worth $823,804,000 after acquiring an additional 6,011,891 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 1.8% during the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after acquiring an additional 2,977,715 shares in the last quarter. First Trust Advisors LP boosted its stake in Abbott Laboratories by 180.7% in the 2nd quarter. First Trust Advisors LP now owns 3,063,443 shares of the healthcare product maker’s stock worth $416,659,000 after purchasing an additional 1,972,097 shares in the last quarter. Finally, TD Asset Management Inc grew its position in Abbott Laboratories by 98.6% during the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after purchasing an additional 1,721,523 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

ABT opened at $121.82 on Friday. The stock has a market cap of $211.83 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.02 and a beta of 0.72. 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 firm has a fifty day moving average price of $126.01 and a 200 day moving average price of $128.95. Abbott Laboratories has a 1 year low of $113.39 and a 1 year high of $141.23.

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

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio is currently 31.58%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ABT shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday, December 29th. Barclays lifted their price target on Abbott Laboratories from $162.00 to $169.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Benchmark initiated coverage on Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Sanford C. Bernstein increased their price objective on shares of Abbott Laboratories from $150.00 to $154.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.