Lake Street Advisors Group LLC Lowers Stake in Abbott Laboratories (NYSE:ABT)

Lake Street Advisors Group LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 4.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,723 shares of the medical products maker’s stock after selling 862 shares during the period. Lake Street Advisors Group LLC’s holdings in Abbott Laboratories were worth $1,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in Abbott Laboratories by 28.4% in the fourth quarter. International Assets Investment Management LLC now owns 12,257 shares of the medical products maker’s stock worth $1,349,000 after purchasing an additional 2,714 shares in the last quarter. Gilbert & Cook Inc. raised its stake in Abbott Laboratories by 17.4% during the 4th quarter. Gilbert & Cook Inc. now owns 7,556 shares of the medical products maker’s stock valued at $832,000 after acquiring an additional 1,120 shares in the last quarter. Accretive Wealth Partners LLC raised its stake in Abbott Laboratories by 1.2% during the 4th quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the medical products maker’s stock valued at $1,466,000 after purchasing another 152 shares in the last quarter. Aveo Capital Partners LLC grew its stake in shares of Abbott Laboratories by 13.3% in the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the medical products maker’s stock valued at $388,000 after acquiring an additional 413 shares during the last quarter. Finally, Gryphon Financial Partners LLC raised its stake in Abbott Laboratories by 3.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the medical products maker’s stock, valued at 12,252,000 USD after acquiring an additional 3,767 shares in the last quarter. 75.18% of the shares are currently owned by institutional investors and hedge funds.

The Wall Street analyst weighs in

Several brokerages have recently issued reports on ABT. Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Barclays boosted their target price 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. Evercore ISI reduced their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Goldman Sachs Group began coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.80, based on data from MarketBeat.com.

Read the latest Abbott Laboratories review

Abbott Laboratories stock rose 0.7%

Shares of NYSE:ABT opened at $113.86 on Friday. The stock has a market cap of $198.07 billion, a P/E ratio of 35.47, a P/E/G ratio of 2.82 and a beta of 0.72. The firm has a fifty day moving average price of $107.87 and a 200 day moving average price of $108.73. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68, and a quick ratio of 1.18. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT – Get Free Report ) last issued its earnings results on Thursday, July 18th. The medical products maker reported $1.14 EPS for the quarter, topping 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 company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. In the same quarter last year, the business earned $1.08 EPS. The company’s revenue was up 4.0% year over year. sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced 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 an annualized dividend of $2.20 and a yield of 1.93%. Abbott Laboratories’ dividend payout ratio (DPR) is currently 68.54%.

Abbott Laboratories Company Profile

(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.

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