Knuff & Co LLC Sells 375 Shares of Abbott Laboratories (NYSE:ABT)

Knuff & Co LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,797 shares of the healthcare product maker’s stock after selling 375 shares during the quarter. Knuff & Co LLC’s holdings in Abbott Laboratories were worth $1,018,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI dropped their target price 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. Barclays boosted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Trading Up 0.5 %

NYSE:ABT traded up $0.51 during trading hours on Monday, hitting $113.27. The stock had a trading volume of 4,320,100 shares, compared to its average volume of 5,906,677. The company has a market cap of $197.05 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 2.82 and a beta of 0.72. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The business’s 50 day moving average is $106.97 and its 200-day moving average is $108.71.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 earnings per share. Sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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