Arkadios Wealth Advisors Acquires 4,593 Shares of Abbott Laboratories $ABT

Arkadios Wealth Advisors raised its stake in Abbott Laboratories (NYSE:ABT) by 16.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,346 shares of the healthcare product maker’s stock after acquiring an additional 4,593 shares during the quarter. Arkadios Wealth Advisors’ holdings in Abbott Laboratories were worth $4,332,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABT. Norges Bank acquired a new position in shares of Abbott Laboratories during the second quarter worth $3,026,180,000. Laurel Wealth Advisors LLC increased its holdings in Abbott Laboratories by 13,347.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,056,934 shares of the healthcare product maker’s stock worth $823,804,000 after purchasing an additional 6,011,891 shares in the last quarter. Vanguard Group Inc. raised its position in Abbott Laboratories by 1.8% in 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 purchasing an additional 2,977,715 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Abbott Laboratories by 180.7% during the second quarter. First Trust Advisors LP now owns 3,063,443 shares of the healthcare product maker’s stock valued at $416,659,000 after purchasing an additional 1,972,097 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Abbott Laboratories by 98.6% during the second 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 currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.6%

Shares of Abbott Laboratories stock opened at $121.05 on Wednesday. The stock’s 50-day moving average is $125.81 and its 200 day moving average is $128.74. Abbott Laboratories has a one year low of $113.50 and a one year high of $141.23. The firm has a market cap of $210.49 billion, a price-to-earnings ratio of 15.17, a PEG 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.

Abbott Laboratories Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BTIG Research reiterated a “buy” rating and set a $145.00 target price on shares of Abbott Laboratories in a research report on Thursday, November 20th. Benchmark initiated coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price target on the stock. Evercore ISI increased their price objective on Abbott Laboratories from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, January 5th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, November 20th. Finally, Barclays upped their price target on Abbott Laboratories from $162.00 to $169.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.42.

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.