Abbott Laboratories (NYSE:ABT) Stock Holdings Boosted by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. lifted its position in Abbott Laboratories (NYSE:ABT) by 1,675.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,680 shares of the healthcare product maker’s stock after buying an additional 5,360 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Abbott Laboratories were worth $590,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Abbott Laboratories by 28.4% in the 4th quarter. International Assets Investment Management LLC now owns 12,257 shares of the healthcare product maker’s stock worth $1,349,000 after purchasing an additional 2,714 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in shares of Abbott Laboratories by 17.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock valued at $832,000 after buying an additional 1,120 shares in the last quarter. Accretive Wealth Partners LLC lifted its position in shares of Abbott Laboratories by 1.2% during the 4th quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after acquiring an additional 152 shares during the last quarter. Aveo Capital Partners LLC boosted its stake in shares of Abbott Laboratories by 13.3% during the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock worth $388,000 after acquiring an additional 413 shares in the last quarter. Finally, Gryphon Financial Partners LLC grew its holdings in shares of Abbott Laboratories by 3.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock worth $12,252,000 after acquiring an additional 3,767 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.7 %

NYSE ABT opened at $113.86 on Friday. 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 has a 1-year low of $89.67 and a 1-year high of $121.64. The firm’s fifty day simple moving average is $107.87 and its 200-day simple moving average is $108.73. The company has a market capitalization of $198.07 billion, a PE ratio of 35.47, a price-to-earnings-growth 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to the consensus estimate 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 business earned $1.08 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays upped their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Citigroup raised 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. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Finally, Evercore ISI cut their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $121.80.

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.