Abbott Laboratories (NYSE:ABT) Shares Sold by Tobam

Tobam lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 64.0% in the second quarter, Holdings Channel.com reports. The fund owned 3,039 shares of the healthcare product maker’s stock after selling 5,397 shares during the quarter. Tobam’s holdings in Abbott Laboratories were worth $316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its position in shares of Abbott Laboratories by 28.4% in the 4th quarter. International Assets Investment Management LLC now owns 12,257 shares of the healthcare product maker’s stock valued at $1,349,000 after purchasing an additional 2,714 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in shares of Abbott Laboratories in the 4th quarter valued at approximately $1,075,000. Capital Investment Counsel Inc acquired a new stake in Abbott Laboratories in the 4th quarter valued at approximately $232,000. Gilbert & Cook Inc. grew its holdings in Abbott Laboratories by 17.4% in the 4th quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock valued at $832,000 after buying an additional 1,120 shares during the last quarter. Finally, Mather Group LLC. grew its holdings in shares of Abbott Laboratories by 2.2% during the 4th quarter. Mather Group LLC. now owns 35,931 shares of the healthcare product maker’s stock worth $3,955,000 after purchasing an additional 789 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded down $0.22 during mid-day trading on Friday, hitting $112.54. 1,466,031 shares of the company’s stock traded hands, compared to its average volume of 5,889,689. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a market capitalization of $195.78 billion, a P/E ratio of 35.14, a PEG ratio of 2.74 and a beta of 0.72. The company’s 50-day moving average is $106.70 and its two-hundred day moving average is $108.72.

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, 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 business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.95%. Abbott Laboratories’s payout ratio is currently 68.54%.

Analyst Ratings Changes

Several brokerages recently commented on ABT. The Goldman Sachs Group started coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Barclays boosted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Citigroup lifted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.80.

About Abbott Laboratories

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.