Stonebrook Private Inc. Reduces Stock Holdings in Abbott Laboratories (NYSE:ABT)

Stonebrook Private Inc. cut its position in Abbott Laboratories (NYSE:ABT) by 11.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,070 shares of the healthcare product maker’s stock after selling 526 shares during the period. 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 institutional investors have also recently made changes to their positions in the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth about $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories in the 1st quarter worth approximately $30,000. Finally, True Wealth Design LLC grew its stake in Abbott Laboratories by 1,677.8% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on ABT shares. Barclays increased their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI decreased their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Finally, Citigroup upped their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Price Performance

Shares of ABT stock traded up $0.76 during trading hours on Friday, hitting $113.86. 3,802,320 shares of the company’s stock were exchanged, compared to its average volume of 5,855,512. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a market capitalization of $198.07 billion, a PE ratio of 35.47, a PEG ratio of 2.82 and a beta of 0.72. The business’s 50 day simple moving average is $107.87 and its 200-day simple moving average is $108.79. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

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 the consensus estimate 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%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. On average, equities research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business 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 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%.

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.