Turtle Creek Wealth Advisors LLC Has $5.17 Million Position in Abbott Laboratories $ABT

Turtle Creek Wealth Advisors LLC grew its position in Abbott Laboratories (NYSE:ABT) by 103.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,576 shares of the healthcare product maker’s stock after purchasing an additional 19,587 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $5,167,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ABT. Brighton Jones LLC grew its position in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after purchasing an additional 4,755 shares during the period. Sivia Capital Partners LLC lifted its stake in Abbott Laboratories by 3.5% in the second quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker’s stock valued at $648,000 after buying an additional 162 shares in the last quarter. Sowell Financial Services LLC boosted its holdings in shares of Abbott Laboratories by 0.5% in the second quarter. Sowell Financial Services LLC now owns 23,890 shares of the healthcare product maker’s stock valued at $3,249,000 after buying an additional 108 shares during the period. Lewis Asset Management LLC increased its position in shares of Abbott Laboratories by 500.8% during the second quarter. Lewis Asset Management LLC now owns 15,968 shares of the healthcare product maker’s stock worth $2,172,000 after acquiring an additional 13,310 shares in the last quarter. Finally, Sweeney & Michel LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth $212,000. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their target price on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Wells Fargo & Company increased their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Finally, Barclays lifted their price objective on shares of Abbott Laboratories from $162.00 to $169.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $147.42.

Abbott Laboratories Trading Down 1.4%

Shares of Abbott Laboratories stock opened at $121.82 on Tuesday. The stock has a market cap of $211.83 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.02 and a beta of 0.72. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 12-month low of $113.39 and a 12-month high of $141.23. The business’s 50 day moving average is $125.93 and its 200-day moving average is $128.83.

Abbott Laboratories Increases Dividend

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

Abbott Laboratories Company Profile

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.