Is Abbott Laboratories (ABT) A Good Stock To Buy?

Now, some big names were leading the bulls’ herd. Balyasny Asset Management initiated the biggest position in Abbott Laboratories (NYSE:ABT). Balyasny Asset Management had $94.7 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also made an $78 million investment in the stock during the quarter. The following funds were also among the new ABT investors: Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Jim Simons’s Renaissance Technologies, and Matthew Tewksbury’s Stevens Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Abbott Laboratories (NYSE:ABT). These stocks are ConocoPhillips (NYSE:COP), Danaher Corporation (NYSE:DHR), Colgate-Palmolive Company (NYSE:CL), and Simon Property Group, Inc (NYSE:SPG). This group of stocks’ market values are similar to ABT’s market value.

As you can see these stocks had an average of 40 hedge funds with bullish positions and the average amount invested in these stocks was $1.55 billion. That figure was $2.08 billion in ABT’s case. Danaher Corporation (NYSE:DHR) is the most popular stock in this table. On the other hand Simon Property Group, Inc (NYSE:SPG) is the least popular one with only 30 bullish hedge fund positions. Compared to these stocks Abbott Laboratories (NYSE:ABT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.