Elevated Capital Advisors LLC has $322,000 in shares position in Abbott Laboratories (NYSE:ABT)

Elevated Capital Advisors LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,096 shares of the medical products maker’s stock after purchasing an additional 300 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Abbott Laboratories were worth $322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABT. Norges Bank bought a new stake in Abbott Laboratories in the 4th quarter valued at $2,115,836,000. Vanguard Group Inc. grew its position in shares of Abbott Laboratories by 5.6% in the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the medical products maker’s stock valued at $18,788,216,000 after purchasing an additional 8,834,840 shares during the period. Capital Research Global Investors boosted its stake in Abbott Laboratories by 9.5% during the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the medical products maker’s stock worth $9,530,825,000 after which bought another 7,527,778 shares in the last quarter. Capital International Investors boosted its holdings in shares of Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the medical products maker’s stock worth $7,976,382,000 after buying an additional 5,882,780 shares during the period. Finally, Boston Partners raised its stake in Abbott Laboratories by 12,577.8% in the fourth quarter. Boston Partners now owns 3,772,670 shares of the medical products maker’s stock valued at $415,948,000 after buying an additional 3,742,912 shares in the last quarter. Institutional investors own 75.18% of the company’s shares.

Analysts on Wall Street are forecasting an increase

Several equities research analysts have issued reports on ABT shares. 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 objective for the company. Barclays raised their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Citigroup boosted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Moderate Buy” and a consensus price target of $121.80, according to MarketBeat .

See our latest report on Abbott Laboratories

Abbott Laboratories trading rose 0.5%

ABT opened at $113.27 on Tuesday. The stock has a market cap of $197.05 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 2.82 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68, and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a 50-day simple moving average of $107.13 and a 200-day simple moving average of $108.71.

Abbott Laboratories (NYSE:ABT – Get Free Report ) last posted its quarterly earnings results on Thursday, July 18th. The medical products maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company 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 quarterly revenue was up 4.0% year over year. In the same quarter last year, the firm posted EPS of $1.08. analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a dividend of $2.20 on an annualized basis and a dividend yield of 1.94%. Abbott Laboratories’ dividend payout ratio (DPR) is currently 68.54%.

About Abbott Laboratories

(Free report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures and sells health care products worldwide. It operates in four segments: Established Pharmaceuticals, Diagnostics, Nutritional Products and Medical Devices. The company provides generic pharmaceutical products for the treatment of exocrine pancreatic insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorders, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease, vestibular pain and inflammation. , and migraine, as well as offers the anti-infective clarithromycin, flu vaccine, and products to regulate the physiological rhythm of the colon.

Further reading

Want to see what other hedge funds ABT owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT – Free Report).

Get daily news and reviews for Abbott Laboratories – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Abbott Laboratories and related companies with MarketBeat.com’s FREE daily email newsletter.