Western Wealth Management LLC Has $1.31 Million Stake in Abbott Laboratories (NYSE:ABT)

Western Wealth Management LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,589 shares of the healthcare product maker’s stock after purchasing an additional 178 shares during the period. Western Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Chesley Taft & Associates LLC raised its holdings in shares of Abbott Laboratories by 0.3% in the second quarter. Chesley Taft & Associates LLC now owns 238,047 shares of the healthcare product maker’s stock valued at $24,735,000 after purchasing an additional 757 shares during the last quarter. Stokes Capital Advisors LLC raised its position in Abbott Laboratories by 35.5% during the second quarter. Stokes Capital Advisors LLC now owns 50,455 shares of the healthcare product maker’s stock worth $5,243,000 after acquiring an additional 13,206 shares in the last quarter. Williams Financial LLC acquired a new stake in Abbott Laboratories in the second quarter valued at $442,000. ARS Wealth Advisors Group LLC lifted its stake in Abbott Laboratories by 6.0% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 6,218 shares of the healthcare product maker’s stock valued at $646,000 after purchasing an additional 351 shares during the last quarter. Finally, Oakworth Capital Inc. increased its holdings in shares of Abbott Laboratories by 5.6% during the 2nd quarter. Oakworth Capital Inc. now owns 8,417 shares of the healthcare product maker’s stock worth $875,000 after acquiring an additional 449 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays upped their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Evercore ISI lowered their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Citigroup dropped their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Abbott Laboratories Trading Up 0.9 %

Shares of Abbott Laboratories stock traded up $1.00 on Monday, reaching $112.00. 547,662 shares of the company’s stock were exchanged, compared to its average volume of 5,998,851. The firm’s 50-day moving average is $105.47 and its two-hundred day moving average is $108.73. The company has a market capitalization of $194.84 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.11 and a current ratio of 1.68. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business 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% on a year-over-year basis. During the same period last year, the company posted $1.08 earnings per share. Sell-side analysts predict that Abbott Laboratories will post 4.66 EPS 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 1.96%. 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.