Lake Street Advisors Group LLC Decreases Stake in Abbott Laboratories (NYSE:ABT)

Lake Street Advisors Group LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,723 shares of the healthcare product maker’s stock after selling 862 shares during the period. Lake Street Advisors Group LLC’s holdings in Abbott Laboratories were worth $1,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Abbott Laboratories by 28.4% during the fourth quarter. International Assets Investment Management LLC now owns 12,257 shares of the healthcare product maker’s stock worth $1,349,000 after purchasing an additional 2,714 shares in the last quarter. Gilbert & Cook Inc. grew its stake in Abbott Laboratories by 17.4% during the 4th quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock valued at $832,000 after acquiring an additional 1,120 shares in the last quarter. Accretive Wealth Partners LLC grew its stake in Abbott Laboratories by 1.2% during the 4th quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after acquiring an additional 152 shares in the last quarter. Aveo Capital Partners LLC grew its stake in Abbott Laboratories by 13.3% during the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock valued at $388,000 after acquiring an additional 413 shares in the last quarter. Finally, Gryphon Financial Partners LLC grew its stake in Abbott Laboratories by 3.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock valued at $12,252,000 after acquiring an additional 3,767 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ABT. Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Barclays boosted 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. Evercore ISI decreased their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories Stock Up 0.7 %

Shares of NYSE:ABT opened at $113.86 on Friday. The stock has a market cap of $198.07 billion, a P/E ratio of 35.47, a P/E/G ratio of 2.82 and a beta of 0.72. The firm has a fifty day moving average price of $107.87 and a 200 day moving average price of $108.73. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

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

Abbott Laboratories Announces Dividend

The firm also recently announced 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 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Abbott Laboratories Company 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.