Foundations Investment Advisors LLC Purchases 388 Shares of Abbott Laboratories (NYSE:ABT)

Foundations Investment Advisors LLC raised its position in Abbott Laboratories (NYSE:ABT) by 3.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 10,224 shares of the healthcare product maker’s stock after acquiring an additional 388 shares during the period. Foundations Investment Advisors LLC’s holdings in Abbott Laboratories were worth $1,062,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Encompass More Asset Management grew its position 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 purchasing an additional 96 shares in the last quarter. Wynn Capital LLC grew its holdings in shares of Abbott Laboratories by 2.9% in the 1st quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock valued at $390,000 after acquiring an additional 98 shares in the last quarter. Berger Financial Group Inc raised its holdings 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 acquiring an additional 99 shares in the last quarter. Bfsg LLC boosted its position in Abbott Laboratories by 21.4% during the first quarter. Bfsg LLC now owns 567 shares of the healthcare product maker’s stock valued at $64,000 after purchasing an additional 100 shares during the last quarter. Finally, NORTHSTAR ASSET MANAGEMENT Co LLC grew its stake in Abbott Laboratories by 1.9% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock valued at $613,000 after purchasing an additional 100 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on ABT shares. The Goldman Sachs Group started coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Barclays boosted their price objective 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. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Citigroup upped their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Evercore ISI decreased their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Trading Down 1.1 %

Shares of Abbott Laboratories stock opened at $113.10 on Friday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock has a market cap of $196.75 billion, a PE ratio of 35.23, a PEG ratio of 2.82 and a beta of 0.72. The firm has a 50-day moving average of $107.67 and a 200-day moving average of $108.79. 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 posted its quarterly earnings data 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. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 1.95%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

About Abbott Laboratories

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.