Turtle Creek Wealth Advisors LLC Acquires 19,587 Shares of Abbott Laboratories $ABT

Turtle Creek Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 103.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,576 shares of the healthcare product maker’s stock after purchasing an additional 19,587 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $5,167,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Carr Financial Group Corp increased its stake in shares of Abbott Laboratories by 2.0% during the third quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock worth $520,000 after purchasing an additional 76 shares during the period. Tortoise Investment Management LLC grew its holdings in Abbott Laboratories by 10.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock valued at $108,000 after buying an additional 77 shares in the last quarter. Gemmer Asset Management LLC increased its position in Abbott Laboratories by 2.9% during the 3rd quarter. Gemmer Asset Management LLC now owns 2,750 shares of the healthcare product maker’s stock worth $368,000 after buying an additional 78 shares during the period. Charles Schwab Trust Co lifted its holdings in shares of Abbott Laboratories by 0.6% during the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after buying an additional 79 shares in the last quarter. Finally, Bridgewater Advisors Inc. boosted its position in shares of Abbott Laboratories by 0.6% in the second quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after acquiring an additional 79 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE ABT opened at $121.82 on Tuesday. Abbott Laboratories has a 1 year low of $113.39 and a 1 year high of $141.23. The firm has a market capitalization of $211.83 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 2.02 and a beta of 0.72. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The firm’s 50 day simple moving average is $125.93 and its 200 day simple moving average is $128.83.

Abbott Laboratories Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Abbott Laboratories from $157.00 to $152.00 and set a “buy” rating on the stock in a research report on Friday, January 9th. Daiwa Capital Markets raised their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. BTIG Research reissued a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Thursday, November 20th. Finally, Barclays raised their price objective on Abbott Laboratories from $162.00 to $169.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.42.

About Abbott Laboratories

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.