Financial Counselors Inc. Has $5.41 Million Holdings in Abbott Laboratories (NYSE:ABT)

Financial Counselors Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,075 shares of the healthcare product maker’s stock after selling 1,729 shares during the period. Financial Counselors Inc.’s holdings in Abbott Laboratories were worth $5,411,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ABT. Encompass More Asset Management raised its position in shares of Abbott Laboratories by 3.3% during the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock worth $312,000 after purchasing an additional 96 shares during the period. Wynn Capital LLC raised its position in shares of Abbott Laboratories by 2.9% during the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after purchasing an additional 98 shares during the period. Berger Financial Group Inc raised its position in shares of Abbott Laboratories by 3.0% during the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after purchasing an additional 99 shares during the period. Hummer Financial Advisory Services Inc raised its position in shares of Abbott Laboratories by 1.2% during the first quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock worth $942,000 after purchasing an additional 100 shares during the period. Finally, Bfsg LLC raised its position in shares of Abbott Laboratories by 21.4% during the first quarter. Bfsg LLC now owns 567 shares of the healthcare product maker’s stock worth $64,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Evercore ISI dropped 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 initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Citigroup lifted 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, Barclays lifted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Stock Performance

ABT opened at $113.27 on Tuesday. The business has a fifty day simple moving average of $107.13 and a 200 day simple moving average of $108.71. The company has a market capitalization 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. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. 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 released its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating 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 return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. Research analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a $0.55 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 1.94%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Abbott Laboratories 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.