Abbott Laboratories (NYSE:ABT) Shares Sold by First Personal Financial Services

First Personal Financial Services reduced its holdings in Abbott Laboratories (NYSE:ABT) by 2.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,627 shares of the healthcare product maker’s stock after selling 100 shares during the quarter. First Personal Financial Services’ holdings in Abbott Laboratories were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ABT. Encompass More Asset Management lifted its holdings in Abbott Laboratories by 3.3% in the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock valued at $312,000 after acquiring an additional 96 shares during the period. Wynn Capital LLC boosted its holdings in Abbott Laboratories by 2.9% during the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after buying an additional 98 shares in the last quarter. Berger Financial Group Inc grew its position in Abbott Laboratories by 3.0% during the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after buying an additional 99 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in Abbott Laboratories by 0.5% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 19,280 shares of the healthcare product maker’s stock valued at $2,122,000 after buying an additional 100 shares in the last quarter. Finally, Bfsg LLC lifted its position in shares of Abbott Laboratories by 21.4% during the 1st quarter. Bfsg LLC now owns 567 shares of the healthcare product maker’s stock valued at $64,000 after acquiring an additional 100 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.5 %

Shares of ABT traded up $0.51 on Friday, hitting $113.27. 4,320,072 shares of the stock traded hands, compared to its average volume of 5,906,677. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The stock’s 50 day moving average is $106.82 and its two-hundred day moving average is $108.75. The firm has a market capitalization of $197.05 billion, a P/E ratio of 35.29, a P/E/G 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 issued 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. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 EPS. As a group, sell-side analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ABT shares. Barclays upped their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Citigroup raised their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Evercore ISI reduced 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.