Norden Group LLC Sells 6,363 Shares of Abbott Laboratories (NYSE:ABT)

Norden Group LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 21.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 23,172 shares of the healthcare product maker’s stock after selling 6,363 shares during the quarter. Norden Group LLC’s holdings in Abbott Laboratories were worth $2,408,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ABT. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Finally, True Wealth Design LLC boosted its position in shares of Abbott Laboratories by 1,677.8% during the 4th 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 in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.7 %

Shares of ABT traded up $0.76 on Friday, reaching $113.86. 3,802,320 shares of the company’s stock were exchanged, compared to its average volume of 5,855,512. 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 stock has a market capitalization of $198.07 billion, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 2.82 and a beta of 0.72. The business has a 50 day moving average price of $107.87 and a two-hundred day moving average price of $108.79. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64.

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

Abbott Laboratories Announces Dividend

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. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Evercore ISI reduced their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Citigroup boosted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

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.