Abbott Laboratories $ABT Stock: Cyndeo Wealth Partners LLC Decreases Holdings

Cyndeo Wealth Partners LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 42.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 94,043 shares of the healthcare product maker’s stock after selling 68,886 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Abbott Laboratories were worth $9,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. St. Johns Investment Management Company LLC increased its holdings in Abbott Laboratories by 1.0% in the second quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker’s stock worth $895,000 after purchasing an additional 101 shares in the last quarter. Eagle Bay Advisors LLC boosted its holdings in shares of Abbott Laboratories by 1.2% during the 3rd quarter. Eagle Bay Advisors LLC now owns 8,448 shares of the healthcare product maker’s stock worth $835,000 after buying an additional 102 shares in the last quarter. Davidson Investment Advisors boosted its holdings in shares of Abbott Laboratories by 3.6% during the 2nd quarter. Davidson Investment Advisors now owns 3,084 shares of the healthcare product maker’s stock worth $280,000 after buying an additional 106 shares in the last quarter. Kinloch Capital LLC grew its position in shares of Abbott Laboratories by 0.4% during the 4th quarter. Kinloch Capital LLC now owns 29,202 shares of the healthcare product maker’s stock worth $3,659,000 after buying an additional 111 shares during the period. Finally, Howard Financial Services LTD. grew its position in shares of Abbott Laboratories by 4.7% during the 2nd quarter. Howard Financial Services LTD. now owns 2,451 shares of the healthcare product maker’s stock worth $222,000 after buying an additional 111 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of ABT opened at $104.79 on Friday. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $132.02. The business’s fifty day moving average is $105.91 and its 200 day moving average is $98.31. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57. The stock has a market cap of $181.32 billion, a P/E ratio of 33.91, a P/E/G ratio of 1.94 and a beta of 0.59.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The business had revenue of $12.59 billion during the quarter, compared to analyst estimates of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. Abbott Laboratories’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 81.55%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABT. Barclays started coverage on shares of Abbott Laboratories in a research report on Wednesday, October 7th. They set an “overweight” rating and a $120.00 target price on the stock. TD Cowen restated a “buy” rating and issued a $135.00 price target on shares of Abbott Laboratories in a report on Friday. Robert W. Baird assumed coverage on shares of Abbott Laboratories in a report on Wednesday, July 1st. They issued an “outperform” rating and a $121.00 price target for the company. Rothschild & Co Redburn raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their price target for the company from $119.00 to $127.00 in a research note on Friday, October 2nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of Abbott Laboratories in a report on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.88.

Abbott Laboratories Profile

Abbott Laboratories (NYSE:ABT) is a diversified healthcare company that develops, manufactures and sells medical devices, diagnostic products, nutritional products and branded generic pharmaceuticals. Founded in 1888 by Wallace C. Abbott, the company serves healthcare providers, institutions, retailers and consumers worldwide.

Abbott’s medical device portfolio includes cardiovascular products, such as coronary stents, structural heart systems and heart failure devices, as well as diabetes-care technologies, including the FreeStyle Libre continuous glucose monitoring system.