Abbott Laboratories (NYSE:ABT) Shares Sold by Truepoint Inc.

Truepoint Inc. lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,666 shares of the healthcare product maker’s stock after selling 119 shares during the quarter. Truepoint Inc.’s holdings in Abbott Laboratories were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories during the 2nd quarter worth $28,000. Transcendent Capital Group LLC acquired a new position in Abbott Laboratories during the 4th quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories during the 4th quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the 1st quarter worth $30,000. Finally, True Wealth Design LLC boosted its position in 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 worth $35,000 after acquiring an additional 302 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays boosted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Royal Bank of Canada reissued 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 lowered their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Citigroup upped their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, The Goldman Sachs Group started coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Trading Up 0.7 %

Abbott Laboratories stock opened at $113.89 on Friday. The business has a 50 day moving average price of $107.67 and a two-hundred day moving average price of $108.79. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock has a market cap of $198.13 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.82 and a beta of 0.72. Abbott Laboratories has a 12 month low of $89.67 and a 12 month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the prior year, the firm posted $1.08 EPS. Abbott Laboratories’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 4.66 EPS for the current 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 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 (DPR) is presently 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.