Abbott Laboratories (NYSE:ABT) is Cyndeo Wealth Partners LLC's 8th Largest Position

Cyndeo Wealth Partners LLC decreased its position in Abbott Laboratories (NYSE:ABT - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 176,726 shares of the healthcare product maker's stock after selling 2,213 shares during the period. Abbott Laboratories accounts for 1.5% of Cyndeo Wealth Partners LLC's investment portfolio, making the stock its 8th biggest holding. Cyndeo Wealth Partners LLC's holdings in Abbott Laboratories were worth $23,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cim LLC increased its stake in Abbott Laboratories by 0.4% in the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after buying an additional 73 shares during the last quarter. Cape Investment Advisory Inc. increased its stake in Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock valued at $140,000 after buying an additional 76 shares during the last quarter. Capital Square LLC increased its stake in Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after buying an additional 77 shares during the last quarter. Cyrus J. Lawrence LLC increased its stake in Abbott Laboratories by 9.0% in the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock valued at $107,000 after buying an additional 79 shares during the last quarter. Finally, LMG Wealth Partners LLC increased its stake in shares of Abbott Laboratories by 3.8% during the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker's stock worth $244,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Down 0.8%

Abbott Laboratories stock opened at $135.41 on Monday. The firm has a 50 day simple moving average of $131.50 and a 200 day simple moving average of $126.47. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The firm has a market capitalization of $235.59 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. On average, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.74%. Abbott Laboratories's payout ratio is 30.61%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays raised their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Citigroup raised their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Piper Sandler restated an "overweight" rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.59.

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.

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