Scholtz & Company LLC Has $4.23 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Scholtz & Company LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 478.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,656 shares of the healthcare product maker’s stock after buying an additional 33,624 shares during the quarter. Abbott Laboratories accounts for about 1.8% of Scholtz & Company LLC’s investment portfolio, making the stock its 22nd largest position. Scholtz & Company LLC’s holdings in Abbott Laboratories were worth $4,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the second quarter worth $28,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories in the first quarter valued at about $30,000. Finally, True Wealth Design LLC raised its holdings in Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $116.84 on Friday. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The stock has a market capitalization of $203.26 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 2.83 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The business has a 50-day moving average of $108.99 and a 200-day moving average of $108.74.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for 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 firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 earnings per share. As a group, sell-side analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABT. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Evercore ISI dropped their price target 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. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Finally, Citigroup raised their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories 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.