Abbott Laboratories (NYSE:ABT) Shares Sold by Claro Advisors LLC

Claro Advisors LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,128 shares of the healthcare product maker’s stock after selling 416 shares during the quarter. Claro Advisors LLC’s holdings in Abbott Laboratories were worth $845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its stake in shares of Abbott Laboratories by 28.4% during the 4th quarter. International Assets Investment Management LLC now owns 12,257 shares of the healthcare product maker’s stock valued at $1,349,000 after buying an additional 2,714 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $1,075,000. Gilbert & Cook Inc. lifted its holdings in 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 acquiring an additional 1,120 shares during the period. Accretive Wealth Partners LLC boosted its position in Abbott Laboratories by 1.2% in the 4th quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock worth $1,466,000 after purchasing an additional 152 shares in the last quarter. Finally, Aveo Capital Partners LLC lifted its stake in shares of Abbott Laboratories by 13.3% in the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock valued at $388,000 after purchasing an additional 413 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.5 %

Shares of ABT opened at $113.27 on Monday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock has a market cap of $197.05 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.82 and a beta of 0.72. The firm’s fifty day moving average is $106.97 and its two-hundred day moving average is $108.71. The company has a quick ratio of 1.18, a current ratio of 1.68 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 analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 earnings per share. Research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were given 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 1.94%. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABT. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Barclays raised their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Evercore ISI dropped 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 note on Tuesday, July 2nd. Finally, Edward Jones cut 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.