Purus Wealth Management LLC Has $732,000 Stake in Abbott Laboratories (NYSE:ABT)

Purus Wealth Management LLC lowered its position in Abbott Laboratories (NYSE:ABT) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,470 shares of the healthcare product maker’s stock after selling 1,269 shares during the period. Purus Wealth Management LLC’s holdings in Abbott Laboratories were worth $732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Intech Investment Management LLC lifted its position in shares of Abbott Laboratories by 10.0% in the second quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker’s stock worth $3,670,000 after buying an additional 3,200 shares during the last quarter. AE Wealth Management LLC grew its holdings in Abbott Laboratories by 14.4% during the second quarter. AE Wealth Management LLC now owns 54,359 shares of the healthcare product maker’s stock valued at $5,648,000 after purchasing an additional 6,859 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Abbott Laboratories by 4.5% in the second quarter. Thrivent Financial for Lutherans now owns 479,241 shares of the healthcare product maker’s stock worth $49,799,000 after buying an additional 20,480 shares during the last quarter. ProShare Advisors LLC lifted its position in Abbott Laboratories by 7.2% during the 2nd quarter. ProShare Advisors LLC now owns 1,900,249 shares of the healthcare product maker’s stock worth $197,455,000 after acquiring an additional 127,133 shares during the last quarter. Finally, Prospector Partners LLC boosted its holdings in Abbott Laboratories by 2.9% during the second quarter. Prospector Partners LLC now owns 179,195 shares of the healthcare product maker’s stock valued at $18,620,000 after acquiring an additional 4,970 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

Shares of ABT opened at $113.45 on Monday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The stock has a market cap of $196.78 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. The company has a 50-day moving average price of $114.93 and a two-hundred day moving average price of $112.80. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 2.08%. Abbott Laboratories’s payout ratio is currently 66.87%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group lifted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley upped their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Barclays upped their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

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.