Abbott Laboratories (NYSE:ABT) Stock Holdings Raised by Choreo LLC

Choreo LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 231.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,039 shares of the healthcare product maker’s stock after acquiring an additional 64,240 shares during the period. Choreo LLC’s holdings in Abbott Laboratories were worth $9,505,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wedbush Securities Inc. raised its stake in Abbott Laboratories by 9.6% during the second quarter. Wedbush Securities Inc. now owns 51,226 shares of the healthcare product maker’s stock worth $5,323,000 after acquiring an additional 4,481 shares during the period. Roof Eidam Maycock Peralta LLC grew its holdings in shares of Abbott Laboratories by 4.3% during the second quarter. Roof Eidam Maycock Peralta LLC now owns 21,031 shares of the healthcare product maker’s stock valued at $2,185,000 after purchasing an additional 860 shares during the last quarter. Prudential PLC lifted its holdings in shares of Abbott Laboratories by 11.8% in the 2nd quarter. Prudential PLC now owns 26,844 shares of the healthcare product maker’s stock worth $2,789,000 after purchasing an additional 2,830 shares during the last quarter. PFG Investments LLC boosted its position in Abbott Laboratories by 22.6% during the 2nd quarter. PFG Investments LLC now owns 16,588 shares of the healthcare product maker’s stock valued at $1,724,000 after purchasing an additional 3,063 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its stake in Abbott Laboratories by 5.0% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 41,057 shares of the healthcare product maker’s stock worth $4,266,000 after buying an additional 1,947 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Barclays increased their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Citigroup upped their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Evercore ISI cut their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Price Performance

ABT stock opened at $114.01 on Monday. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $198.37 billion, a PE ratio of 35.47, a P/E/G ratio of 2.83 and a beta of 0.72. The firm has a 50-day moving average of $107.87 and a two-hundred day moving average of $108.67.

Abbott Laboratories (NYSE:ABT) last released 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 for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. On average, analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Abbott Laboratories Company 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.