MGO One Seven LLC Has $2.08 Million Position in Abbott Laboratories (NYSE:ABT)

MGO One Seven LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,014 shares of the healthcare product maker’s stock after selling 1,526 shares during the period. MGO One Seven LLC’s holdings in Abbott Laboratories were worth $2,080,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the second quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at $29,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories during the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories during the first quarter worth $30,000. Finally, True Wealth Design LLC increased its holdings 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 valued at $35,000 after purchasing an additional 302 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Down 0.5 %

ABT opened at $116.55 on Thursday. The stock has a market capitalization of $202.75 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 2.83 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a 50-day simple moving average of $108.70 and a 200 day simple moving average of $108.69.

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

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Evercore ISI reduced their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group started coverage on Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.80.

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.