Ride Out The Next Market Storm With Abbott Laboratories (NYSE:ABT), Plains GP Holdings L.P. (NYSE:PAGP)

The shares of Abbott Laboratories (NYSE:ABT) has been pegged with a rating of Neutral by Guggenheim in its latest research note that was published on January 02, 2020. Guggenheim wasn’t the only research firm that published a report of Abbott Laboratories, with other equities research analysts also giving their opinion on the stock. BofA/Merrill advised investors in its research note published on June 13, 2019, to Buy the ABT stock while also putting a $90 price target. The stock had earned Buy rating from BofA/Merrill Markets when it published its report on February 07, 2019. That day the BofA/Merrill set price target on the stock to $81. Goldman was of a view that ABT is Buy in its latest report on November 30, 2018. Barclays thinks that ABT is worth Overweight rating. This was contained in the firm’s report on October 16, 2018 in which the stock’s price target was also moved to 80.

Amongst the analysts that rated the stock, 0 have recommended investors to sell it, 3 believe it has the potential for further growth, thus rating it as Hold while 13 advised investors to purchase the stock. The consensus currently stands at a Overweight while its average price target is $96.07. The price of the stock the last time has raised by 27.82% from its 52-Week high price while it is -2.08% than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 59.24.

The shares of the company added by 1.91% during the trading session on Wednesday, reaching a low of $86.11 while ending the day at $87.38. During the trading session, a total of 5.27 million shares were traded which represents a -10.78% decline from the average session volume which is 4.76 million shares. ABT had ended its last session trading at $85.74. Abbott Laboratories currently has a market cap of $156.48 billion, while its P/E ratio stands at 47.23, while its P/E earnings growth sits at 4.15, with a beta of 1.12. Abbott Laboratories debt-to-equity ratio currently stands at 0.60, while its quick ratio hovers at 1.10 ABT 52-week low price stands at $68.36 while its 52-week high price is $89.24.

The company in its last quarterly report recorded $0.84 earnings per share which is above the predicted by most analysts. The Abbott Laboratories generated 4.09 billion in revenue during the last quarter. In the second quarter last year, the firm recorded $0.82 earnings per share. Compared to the same quarter last year, the firm’s revenue was up by 3.57%. Abbott Laboratories has the potential to record 3.24 EPS for the current fiscal year, according to equities analysts.

Investment analysts at Barclays published a research note on January 14, 2020 where it informed investors and clients that Plains GP Holdings L.P. (NYSE:PAGP) is now rated as Overweight. Their price target on the stock stands at $24. Morgan Stanley also rated PAGP as Initiated on January 06, 2020, with its price target of $19 suggesting that PAGP could surge by 19.33% from its current share price. Even though the stock has been trading at $19.19/share, analysts expect it to surge by 0.26% to reach $23.85/share. It started the day trading at $19.305 and traded between $19.11 and $19.24 throughout the trading session.

A look at its technical shows that PAGP’s 50-day SMA is 18.36 while its 200-day SMA stands at 21.84. The stock has a high of $25.82 for the year while the low is $16.99. The stock, however, witnessed a rise in its short on 12/31/19. Compared to previous close which recorded 2.31 M shorted shares, the short percentage went higher by 37.84%, as 3.18M ABT shares were shorted. At the moment, only 0.94% of Plains GP Holdings L.P. shares were sold short. The company’s P/E ratio currently sits at 6.74, while the P/B ratio is 1.50. The company’s average trading volume currently stands at 2.81M shares, which means that the short-interest ratio is just 0.82 days. Over the past seven days, the company moved, with its shift of -0.36%. Looking further, the stock has dropped -0.82% over the past 90 days while it lost -22.67% over the last six months.

The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. The Tortoise Capital Advisors LLC bought more PAGP shares, increasing its portfolio by 25.99% during the last quarter. This move now sees The Tortoise Capital Advisors LLC purchasing 2,497,743 shares in the last quarter, thus it now holds 12,109,120 shares of PAGP, with a total valuation of $229,467,824. Chickasaw Capital Management LLC meanwhile bought more PAGP shares in the recently filed quarter, changing its stake to $188,859,793 worth of shares.

Similarly, Kayne Anderson Capital Advisors L… decreased its Plains GP Holdings L.P. shares by 1.98% during the recently filed quarter. After selling 7,080,719 shares in the last quarter, the firm now controls -143,149 shares of Plains GP Holdings L.P. which are valued at $134,179,625. In the same vein, Massachusetts Financial Services … decreased its Plains GP Holdings L.P. shares by during the most recent reported quarter. The firm bought 99,355 shares during the quarter which decreased its stakes to 5,603,282 shares and is now valued at $106,182,194. Following these latest developments, around 1.20% of Plains GP Holdings L.P. stocks are owned by institutional investors and hedge funds.