Strategic Financial Concepts LLC Purchases Shares of 111,649 Abbott Laboratories (NYSE:ABT)

Strategic Financial Concepts LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 111,649 shares of the healthcare product maker’s stock, valued at approximately $116,000.

A number of other institutional investors have also made changes to their positions in ABT. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. Finally, True Wealth Design LLC grew its holdings in shares of Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on ABT. Evercore ISI lowered their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Citigroup boosted their price target 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. Finally, Barclays boosted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Stock Up 0.5 %

Shares of NYSE:ABT opened at $117.05 on Wednesday. The company has a market capitalization of $203.66 billion, a PE ratio of 36.46, a P/E/G ratio of 2.83 and a beta of 0.72. 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 twelve month low of $89.67 and a twelve month high of $121.64. The firm has a 50 day simple moving average of $108.42 and a 200-day simple moving average of $108.63.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. Abbott Laboratories’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a $0.55 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio (DPR) is 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.