Stonebrook Private Inc. Has $423,000 Position in Abbott Laboratories (NYSE:ABT)

Stonebrook Private Inc. trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 11.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,070 shares of the healthcare product maker’s stock after selling 526 shares during the quarter. Stonebrook Private Inc.’s holdings in Abbott Laboratories were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Abbott Laboratories in the 1st quarter worth about $30,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at about $29,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Finally, True Wealth Design LLC grew 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 worth $35,000 after purchasing 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 research analyst reports. Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Citigroup boosted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Stock Up 0.7 %

Shares of ABT stock traded up $0.76 during trading hours on Friday, reaching $113.86. The company had a trading volume of 3,802,320 shares, compared to its average volume of 5,855,512. The business has a fifty day simple moving average of $107.87 and a 200-day simple moving average of $108.79. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a market cap of $198.07 billion, a price-to-earnings ratio of 35.47, a price-to-earnings-growth ratio of 2.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

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

Abbott Laboratories Announces Dividend

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