Cliftonlarsonallen Wealth Advisors LLC Invests $1.20 Million in Abbott Laboratories (NYSE:ABT)

Cliftonlarsonallen Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,563 shares of the healthcare product maker’s stock, valued at approximately $1,195,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bath Savings Trust Co increased its holdings in Abbott Laboratories by 3.7% during the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after acquiring an additional 5,881 shares in the last quarter. Simplify Asset Management Inc. boosted its position in Abbott Laboratories by 67.3% during the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after acquiring an additional 5,664 shares during the last quarter. Dundas Partners LLP raised its holdings in Abbott Laboratories by 2.1% in the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after acquiring an additional 6,897 shares during the last quarter. Pensionfund Sabic acquired a new position in Abbott Laboratories in the fourth quarter valued at $2,828,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Abbott Laboratories by 19.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after acquiring an additional 31,720 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Evercore ISI increased their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.57.

Abbott Laboratories Stock Performance

ABT stock traded up $0.05 during midday trading on Wednesday, reaching $112.48. The company had a trading volume of 511,773 shares, compared to its average volume of 4,191,727. The firm has a market capitalization of $195.09 billion, a PE ratio of 34.19, a P/E/G ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $115.14 and a 200 day moving average price of $112.67.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. Analysts anticipate that Abbott Laboratories will post 4.67 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 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 71.73%.

Abbott Laboratories Company Profile

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.