Chapin Davis Inc. Has $615,000 Stake in Abbott Laboratories (NYSE:ABT)

Chapin Davis Inc. cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,923 shares of the healthcare product maker’s stock after selling 184 shares during the quarter. Chapin Davis Inc.’s holdings in Abbott Laboratories were worth $615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Signature Resources Capital Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth $29,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new position in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth approximately $30,000. Finally, True Wealth Design LLC increased its position in Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 302 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Evercore ISI cut their price target 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. Citigroup reduced their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. The Goldman Sachs Group started coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Finally, Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Abbott Laboratories Stock Up 0.1 %

ABT traded up $0.06 during midday trading on Friday, hitting $111.00. The company had a trading volume of 4,643,293 shares, compared to its average volume of 6,033,353. The stock’s 50 day moving average price is $105.47 and its 200 day moving average price is $108.73. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a market capitalization of $193.10 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last posted its quarterly 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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the prior year, the business earned $1.08 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders 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 a $2.20 annualized dividend and a yield of 1.98%. Abbott Laboratories’s payout ratio is 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.