Abbott Laboratories (NYSE:ABT) Shares Sold by JB Capital LLC

JB Capital LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 28.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,420 shares of the healthcare product maker’s stock after selling 944 shares during the quarter. JB Capital LLC’s holdings in Abbott Laboratories were worth $251,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $28,000. Signature Resources Capital Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories during the 4th quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABT. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barclays upped their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Citigroup lifted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday. Finally, Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Stock Up 0.5 %

Shares of NYSE ABT traded up $0.59 during midday trading on Friday, hitting $112.69. 4,511,637 shares of the company’s stock were exchanged, compared to its average volume of 5,979,149. The firm’s fifty day simple moving average is $106.15 and its 200-day simple moving average is $108.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11. The company has a market cap of $196.04 billion, a PE ratio of 35.11, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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 the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. Research analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 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.