Resonant Capital Advisors LLC Acquires 286 Shares of Abbott Laboratories (NYSE:ABT)

Resonant Capital Advisors LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,116 shares of the healthcare product maker’s stock after acquiring an additional 286 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Abbott Laboratories were worth $1,363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Vanguard Group Inc. boosted its stake in Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after acquiring an additional 8,834,840 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Abbott Laboratories by 9.5% during the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after purchasing an additional 7,527,778 shares in the last quarter. Capital International Investors grew its stake in shares of Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares during the period. Wellington Management Group LLP increased its position in Abbott Laboratories by 3.3% in the 4th quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after buying an additional 1,027,390 shares in the last quarter. Finally, Norges Bank acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $2,115,836,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT stock traded up $0.51 during trading on Monday, hitting $113.27. The company’s stock had a trading volume of 4,320,100 shares, compared to its average volume of 5,906,677. The business has a fifty day moving average of $106.97 and a 200-day moving average of $108.71. The company has a market cap of $197.05 billion, a PE ratio of 35.29, a P/E/G ratio of 2.82 and a beta of 0.72. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. 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 announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ABT shares. Evercore ISI lowered 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. Citigroup raised 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 stock an “overweight” rating in a research report on Monday, July 29th. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group began coverage on Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Two equities 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, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

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.