Arkadios Wealth Advisors Has $4.33 Million Stake in Abbott Laboratories $ABT

Arkadios Wealth Advisors raised its stake in Abbott Laboratories (NYSE:ABT) by 16.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,346 shares of the healthcare product maker’s stock after purchasing an additional 4,593 shares during the quarter. Arkadios Wealth Advisors’ holdings in Abbott Laboratories were worth $4,332,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABT. IMG Wealth Management Inc. boosted its stake in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 167 shares during the period. Anfield Capital Management LLC lifted its holdings in Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in Abbott Laboratories during the second quarter worth $32,000. Curio Wealth LLC increased its holdings in shares of Abbott Laboratories by 15,250.0% in the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after purchasing an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC raised its position in shares of Abbott Laboratories by 34.6% in the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after purchasing an additional 81 shares during the period. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of research reports. Evercore ISI upped their price target on shares of Abbott Laboratories from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Daiwa Capital Markets boosted their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, November 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday, December 29th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.42.

Abbott Laboratories Stock Down 0.6%

Shares of NYSE ABT opened at $121.05 on Wednesday. The stock has a market capitalization of $210.49 billion, a P/E ratio of 15.17, a PEG ratio of 2.02 and a beta of 0.72. The stock’s fifty day moving average is $125.81 and its 200 day moving average is $128.74. Abbott Laboratories has a 52 week low of $113.50 and a 52 week high of $141.23. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70.

Abbott Laboratories Increases Dividend

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

About Abbott Laboratories

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.