Solidarity Wealth LLC Has $292,000 Position in Abbott Laboratories (NYSE:ABT)

Solidarity Wealth LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,582 shares of the healthcare product maker’s stock after selling 300 shares during the quarter. Solidarity Wealth LLC’s holdings in Abbott Laboratories were worth $292,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ballentine Partners LLC grew its position in shares of Abbott Laboratories by 14.8% in the fourth quarter. Ballentine Partners LLC now owns 43,538 shares of the healthcare product maker’s stock valued at $4,925,000 after purchasing an additional 5,599 shares during the last quarter. Pure Financial Advisors LLC grew its position in Abbott Laboratories by 11.3% during the fourth quarter. Pure Financial Advisors LLC now owns 6,979 shares of the healthcare product maker’s stock worth $789,000 after buying an additional 711 shares in the last quarter. Tudor Financial Inc. grew its position in Abbott Laboratories by 77.7% during the fourth quarter. Tudor Financial Inc. now owns 4,703 shares of the healthcare product maker’s stock worth $532,000 after buying an additional 2,056 shares in the last quarter. Koshinski Asset Management Inc. grew its position in Abbott Laboratories by 0.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 24,745 shares of the healthcare product maker’s stock worth $2,799,000 after buying an additional 210 shares in the last quarter. Finally, Gemmer Asset Management LLC grew its position in Abbott Laboratories by 10.3% during the fourth quarter. Gemmer Asset Management LLC now owns 3,049 shares of the healthcare product maker’s stock worth $345,000 after buying an additional 284 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABT. Royal Bank of Canada lifted their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays lifted their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Mizuho lifted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $131.57.

Abbott Laboratories Price Performance

ABT opened at $113.45 on Tuesday. The company has a fifty day moving average price of $114.93 and a two-hundred day moving average price of $112.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The firm has a market capitalization of $196.78 billion, a PE ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73.

Abbott Laboratories Increases Dividend

The firm also recently announced 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 yield of 2.08%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is currently 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.