Brooklyn Investment Group Has $1.91 Million Position in Abbott Laboratories (NYSE:ABT)

Brooklyn Investment Group grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 41.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,897 shares of the healthcare product maker’s stock after purchasing an additional 4,941 shares during the period. Brooklyn Investment Group’s holdings in Abbott Laboratories were worth $1,911,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. raised its stake in shares of Abbott Laboratories by 506.9% in the second quarter. Edgestream Partners L.P. now owns 15,987 shares of the healthcare product maker’s stock valued at $1,661,000 after purchasing an additional 13,353 shares in the last quarter. Intech Investment Management LLC raised its position in Abbott Laboratories by 10.0% in the second quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker’s stock worth $3,670,000 after purchasing an additional 3,200 shares in the last quarter. Ieq Capital LLC raised its position in Abbott Laboratories by 2.0% in the second quarter. Ieq Capital LLC now owns 108,990 shares of the healthcare product maker’s stock worth $11,325,000 after purchasing an additional 2,154 shares in the last quarter. GM Advisory Group LLC raised its position in Abbott Laboratories by 2.4% in the second quarter. GM Advisory Group LLC now owns 4,979 shares of the healthcare product maker’s stock worth $517,000 after purchasing an additional 116 shares in the last quarter. Finally, Clifford Group LLC grew its stake in shares of Abbott Laboratories by 1.8% in the 2nd quarter. Clifford Group LLC now owns 5,756 shares of the healthcare product maker’s stock valued at $598,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Mizuho raised their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $113.45 on Friday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The stock has a 50-day moving average price of $115.00 and a 200 day moving average price of $112.66. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $196.78 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 EPS. Research analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

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.