Cliftonlarsonallen Wealth Advisors LLC Makes New $1.20 Million Investment in Abbott Laboratories (NYSE:ABT)

Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 10,563 shares of the healthcare product maker's stock, valued at approximately $1,195,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABT. State Street Corp lifted its holdings in shares of Abbott Laboratories by 3.1% during the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker's stock valued at $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC increased its position in Abbott Laboratories by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker's stock valued at $3,963,974,000 after buying an additional 488,764 shares in the last quarter. Wellington Management Group LLP raised its stake in Abbott Laboratories by 1.1% during the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker's stock valued at $2,942,709,000 after buying an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker's stock worth $1,518,539,000 after acquiring an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Abbott Laboratories by 5.6% in the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker's stock worth $1,265,762,000 after acquiring an additional 585,915 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $1.47 during midday trading on Wednesday, hitting $110.96. 6,538,250 shares of the company's stock traded hands, compared to its average volume of 4,867,577. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock has a market capitalization of $192.46 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The firm has a fifty day moving average of $115.14 and a 200 day moving average of $112.67. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the firm earned $1.14 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories's previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.13%. Abbott Laboratories's payout ratio is 71.73%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group upped their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Mizuho increased their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an "overweight" rating and a $131.00 price objective for the company. 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. Finally, Barclays upped their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned 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 $131.57.

About Abbott Laboratories

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.