Evernest Financial Advisors LLC Sells 112 Shares of Abbott Laboratories (NYSE:ABT)

Evernest Financial Advisors LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,308 shares of the healthcare product maker’s stock after selling 112 shares during the period. Evernest Financial Advisors LLC’s holdings in Abbott Laboratories were worth $655,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ABT. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the 2nd quarter worth approximately $28,000. Transcendent Capital Group LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $29,000. Richardson Financial Services Inc. bought a new stake in Abbott Laboratories in the fourth quarter worth $29,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories during the first quarter valued at $30,000. Finally, True Wealth Design LLC lifted its position in Abbott Laboratories by 1,677.8% during 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 during the last quarter. 75.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Evercore ISI cut 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. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Trading Up 0.5 %

NYSE ABT opened at $117.05 on Wednesday. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company’s 50-day moving average price is $108.42 and its 200-day moving average price is $108.63. The stock has a market cap of $203.62 billion, a PE ratio of 36.46, a PEG 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 (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $1.08 earnings per share. Equities research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. Abbott Laboratories’s dividend payout ratio 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.