Simon Quick Advisors LLC Has $2.27 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Simon Quick Advisors LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 104.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,055 shares of the healthcare product maker’s stock after purchasing an additional 10,248 shares during the quarter. Simon Quick Advisors LLC’s holdings in Abbott Laboratories were worth $2,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Groupama Asset Managment grew its position in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $31,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories during the 3rd quarter valued at approximately $32,000. Valued Wealth Advisors LLC increased its position in Abbott Laboratories by 78.4% during the 3rd 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 bought a new position in Abbott Laboratories in the 3rd quarter valued at approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT stock opened at $116.78 on Wednesday. The firm has a market cap of $202.55 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 2.43 and a beta of 0.73. 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 stock has a 50-day moving average price of $114.87 and a 200-day moving average price of $112.95. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABT. 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 report on Thursday, October 17th. Sanford C. Bernstein increased their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Evercore ISI boosted their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Mizuho raised their price objective 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. Finally, Morgan Stanley boosted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $131.93.

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.