Foguth Wealth Management LLC. Grows Stock Position in Abbott Laboratories (NYSE:ABT)

Foguth Wealth Management LLC. increased its holdings in Abbott Laboratories (NYSE:ABT) by 37.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,838 shares of the healthcare product maker’s stock after purchasing an additional 1,040 shares during the quarter. Foguth Wealth Management LLC.’s holdings in Abbott Laboratories were worth $399,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABT. Burke & Herbert Bank & Trust Co. lifted its holdings in Abbott Laboratories by 47.0% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 15,875 shares of the healthcare product maker’s stock valued at $1,650,000 after purchasing an additional 5,073 shares in the last quarter. Buckingham Capital Management Inc. lifted its holdings in Abbott Laboratories by 5.0% in the 2nd quarter. Buckingham Capital Management Inc. now owns 75,224 shares of the healthcare product maker’s stock valued at $7,817,000 after purchasing an additional 3,611 shares in the last quarter. Cooper Financial Group lifted its holdings in Abbott Laboratories by 2.7% in the 2nd quarter. Cooper Financial Group now owns 4,052 shares of the healthcare product maker’s stock valued at $421,000 after purchasing an additional 107 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Abbott Laboratories by 14.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 162,044 shares of the healthcare product maker’s stock valued at $16,838,000 after purchasing an additional 21,069 shares in the last quarter. Finally, Werlinich Asset Management LLC lifted its holdings in Abbott Laboratories by 1.1% in the 2nd quarter. Werlinich Asset Management LLC now owns 13,595 shares of the healthcare product maker’s stock valued at $1,423,000 after purchasing an additional 150 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Raymond James reaffirmed a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Finally, Evercore ISI dropped their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Abbott Laboratories Trading Up 0.4 %

ABT traded up $0.44 on Tuesday, reaching $108.24. 4,911,496 shares of the company’s stock were exchanged, compared to its average volume of 6,034,481. The company’s 50 day moving average is $105.13 and its 200-day moving average is $108.79. The company has a market cap of $188.30 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.11 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping 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 net margin of 13.65% and a return on equity of 20.18%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. Equities analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.03%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.