BBR Partners LLC Sells 8,659 Shares of Abbott Laboratories (NYSE:ABT)

BBR Partners LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 14.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 49,929 shares of the healthcare product maker’s stock after selling 8,659 shares during the period. Abbott Laboratories makes up 0.4% of BBR Partners LLC’s investment portfolio, making the stock its 22nd largest position. BBR Partners LLC’s holdings in Abbott Laboratories were worth $5,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories during the second quarter worth about $28,000. Transcendent Capital Group LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. Finally, True Wealth Design LLC raised its stake 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 buying an additional 302 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Citigroup increased their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. 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 objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Evercore ISI cut their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Trading Down 1.1 %

Abbott Laboratories stock opened at $113.10 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The business has a 50-day simple moving average of $107.67 and a two-hundred day simple moving average of $108.79. The company has a market cap of $196.75 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.82 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. Analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.95%. Abbott Laboratories’s payout ratio is 68.54%.

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.