Abbott Laboratories (NYSE:ABT) Shares Bought by NBT Bank N A NY

NBT Bank N A NY lifted its stake in Abbott Laboratories (NYSE:ABT) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,237 shares of the healthcare product maker’s stock after purchasing an additional 5,416 shares during the period. Abbott Laboratories makes up 0.9% of NBT Bank N A NY’s investment portfolio, making the stock its 25th largest holding. NBT Bank N A NY’s holdings in Abbott Laboratories were worth $12,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the second quarter valued at about $28,000. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ABT shares. 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. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Barclays raised their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $113.27 on Friday. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm has a 50 day moving average price of $106.97 and a 200 day moving average price of $108.74. The company has a market cap of $197.08 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last released its earnings results 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 net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share. 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 given a dividend of $0.55 per share. The ex-dividend date was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

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.