Candriam S.C.A. Grows Stake in Abbott Laboratories (NYSE:ABT)

Candriam S.C.A. increased its holdings in Abbott Laboratories (NYSE:ABT) by 18.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 359,676 shares of the healthcare product maker’s stock after purchasing an additional 56,167 shares during the period. Candriam S.C.A.’s holdings in Abbott Laboratories were worth $37,372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new position in Abbott Laboratories during the fourth quarter valued at $29,000. Richardson Financial Services Inc. purchased a new position in shares of Abbott Laboratories in the 4th quarter worth $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth about $30,000. Finally, True Wealth Design LLC raised 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 buying an additional 302 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ABT. Citigroup lifted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI cut their target price 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 started coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $113.93 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The firm has a market cap of $198.20 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.82 and a beta of 0.72. The firm’s 50 day simple moving average is $107.87 and its 200-day simple moving average is $108.79. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its 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 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 revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 EPS. As a group, equities analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a dividend of $0.55 per share. 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 is currently 68.54%.

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.