Cyndeo Wealth Partners LLC Acquires 2,179 Shares of Abbott Laboratories (NYSE:ABT)

Cyndeo Wealth Partners LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 178,939 shares of the healthcare product maker’s stock after purchasing an additional 2,179 shares during the quarter. Abbott Laboratories makes up approximately 1.4% of Cyndeo Wealth Partners LLC’s portfolio, making the stock its 9th largest position. Cyndeo Wealth Partners LLC’s holdings in Abbott Laboratories were worth $20,240,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Groupama Asset Managment lifted its holdings in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth $31,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at $32,000. Valued Wealth Advisors LLC boosted its holdings in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new position in Abbott Laboratories during the third quarter worth $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABT. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday. Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Barclays boosted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Raymond James restated a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $132.50.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $125.12 on Friday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $125.67. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market cap of $217.01 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. The business’s 50 day moving average is $115.26 and its 200-day moving average is $113.31.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. During the same period last year, the firm earned $1.19 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post 5.15 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

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.