Abbott Laboratories (NYSE:ABT) Shares Purchased by Quest Partners LLC

Quest Partners LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 482.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,094 shares of the healthcare product maker’s stock after purchasing an additional 14,986 shares during the quarter. Quest Partners LLC’s holdings in Abbott Laboratories were worth $1,880,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories in the second quarter valued at $28,000. Transcendent Capital Group LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $29,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories during the first quarter valued at about $30,000. Finally, True Wealth Design LLC grew its position in Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 302 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent research reports. Evercore ISI reduced their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Barclays boosted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Stock Up 0.7 %

Shares of Abbott Laboratories stock opened at $113.86 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The firm has a market cap of $198.07 billion, a P/E ratio of 35.47, a P/E/G ratio of 2.82 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The business has a 50-day moving average price of $107.87 and a 200 day moving average price of $108.67.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 earnings per share. On average, sell-side analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

About Abbott Laboratories

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.