Arkadios Wealth Advisors Sells 3,749 Shares of Abbott Laboratories (NYSE:ABT)

Arkadios Wealth Advisors reduced its position in Abbott Laboratories (NYSE:ABT) by 24.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,902 shares of the healthcare product maker’s stock after selling 3,749 shares during the quarter. Arkadios Wealth Advisors’ holdings in Abbott Laboratories were worth $1,346,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ABT. Intech Investment Management LLC increased its stake in Abbott Laboratories by 10.0% in the second quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker’s stock valued at $3,670,000 after purchasing an additional 3,200 shares in the last quarter. AE Wealth Management LLC increased its position in Abbott Laboratories by 14.4% in the 2nd quarter. AE Wealth Management LLC now owns 54,359 shares of the healthcare product maker’s stock valued at $5,648,000 after buying an additional 6,859 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Abbott Laboratories by 4.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 479,241 shares of the healthcare product maker’s stock worth $49,799,000 after buying an additional 20,480 shares during the period. ProShare Advisors LLC grew its stake in Abbott Laboratories by 7.2% in the second quarter. ProShare Advisors LLC now owns 1,900,249 shares of the healthcare product maker’s stock valued at $197,455,000 after acquiring an additional 127,133 shares during the period. Finally, Prospector Partners LLC increased its holdings in shares of Abbott Laboratories by 2.9% during the second quarter. Prospector Partners LLC now owns 179,195 shares of the healthcare product maker’s stock valued at $18,620,000 after acquiring an additional 4,970 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABT. Evercore ISI boosted their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Mizuho upped their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. UBS Group lifted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Barclays upped their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Trading Down 0.4 %

NYSE:ABT opened at $113.45 on Monday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. 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’s 50 day moving average is $114.93 and its 200 day moving average is $112.80. The stock has a market capitalization of $196.78 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73.

Abbott Laboratories Increases Dividend

The company 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 dividend of $0.59 per share. This is an increase 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 2.08%. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Abbott Laboratories 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.