Cooper Financial Group Purchases 107 Shares of Abbott Laboratories (NYSE:ABT)

Cooper Financial Group increased its position in Abbott Laboratories (NYSE:ABT) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,052 shares of the healthcare product maker’s stock after acquiring an additional 107 shares during the period. Cooper Financial Group’s holdings in Abbott Laboratories were worth $421,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ABT. Signature Resources Capital Management LLC purchased a new position in Abbott Laboratories during the fourth quarter valued at $29,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $30,000. Finally, True Wealth Design LLC lifted its holdings in Abbott Laboratories by 1,677.8% during 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 in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of a number of analyst reports. Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Raymond James restated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Finally, Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Abbott Laboratories Trading Up 0.3 %

NYSE:ABT traded up $0.35 during midday trading on Tuesday, hitting $108.15. The stock had a trading volume of 2,110,581 shares, compared to its average volume of 6,016,354. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a market capitalization of $188.14 billion, a price-to-earnings ratio of 33.75, a PEG ratio of 2.74 and a beta of 0.72. The stock has a 50-day moving average of $105.04 and a 200 day moving average of $108.81. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

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, topping 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 company had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The firm’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 announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 2.03%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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.