Gryphon Financial Partners LLC Acquires 2,194 Shares of Abbott Laboratories (NYSE:ABT)

Gryphon Financial Partners LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,620 shares of the healthcare product maker’s stock after buying an additional 2,194 shares during the period. Abbott Laboratories accounts for approximately 1.8% of Gryphon Financial Partners LLC’s portfolio, making the stock its 12th biggest holding. Gryphon Financial Partners LLC’s holdings in Abbott Laboratories were worth $11,806,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Encompass More Asset Management boosted its position in Abbott Laboratories by 3.3% during the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock worth $312,000 after purchasing an additional 96 shares during the period. Wynn Capital LLC boosted its holdings in shares of 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 acquiring an additional 98 shares during the period. Hummer Financial Advisory Services Inc lifted its holdings in Abbott Laboratories by 1.2% during the 1st quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock worth $942,000 after purchasing an additional 100 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co LLC grew its holdings in Abbott Laboratories by 1.9% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock valued at $613,000 after buying an additional 100 shares in the last quarter. Finally, Addison Capital Co lifted its holdings in shares of Abbott Laboratories by 5.4% during the first quarter. Addison Capital Co now owns 1,950 shares of the healthcare product maker’s stock worth $222,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barclays raised their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Citigroup boosted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s 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 Price Performance

ABT stock opened at $116.43 on Tuesday. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock has a market cap of $202.58 billion, a price-to-earnings ratio of 36.27, a P/E/G ratio of 2.83 and a beta of 0.72. The company has a 50 day simple moving average of $108.14 and a 200 day simple moving average of $108.65.

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

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were issued a $0.55 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. Abbott Laboratories’s payout ratio 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.