New York Life Investment Management LLC Has $25.34 Million Holdings in Abbott Laboratories (NYSE:ABT)

New York Life Investment Management LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 243,821 shares of the healthcare product maker’s stock after buying an additional 2,161 shares during the quarter. New York Life Investment Management LLC’s holdings in Abbott Laboratories were worth $25,335,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ABT. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the second quarter worth $28,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the 1st quarter valued at about $30,000. Richardson Financial Services Inc. bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $29,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Finally, True Wealth Design LLC lifted its holdings in 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 buying an additional 302 shares during the period. 75.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ABT. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI lowered their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Barclays boosted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Stock Performance

Shares of ABT opened at $113.93 on Friday. The firm has a market cap of $198.20 billion, a P/E ratio of 35.49, a PEG ratio of 2.82 and a beta of 0.72. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The firm’s 50 day moving average price is $107.87 and its two-hundred day moving average price is $108.79.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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 business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the previous year, the firm posted $1.08 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, analysts forecast 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. Shareholders of record on Monday, July 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date was Monday, July 15th. Abbott Laboratories’s payout ratio is 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.