Abbott Laboratories (NYSE:ABT) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,742,948 shares of the healthcare product maker’s stock after selling 2,826 shares during the period. Abbott Laboratories accounts for approximately 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 19th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Abbott Laboratories were worth $179,036,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ABT. International Assets Investment Management LLC lifted its stake in shares of Abbott Laboratories by 28.4% in the 4th quarter. International Assets Investment Management LLC now owns 12,257 shares of the healthcare product maker’s stock worth $1,349,000 after acquiring an additional 2,714 shares during the period. Cullen Investment Group LTD. bought a new position in Abbott Laboratories during the 4th quarter valued at $403,000. Keel Point LLC increased its position in shares of Abbott Laboratories by 11.3% during the 4th quarter. Keel Point LLC now owns 6,791 shares of the healthcare product maker’s stock valued at $748,000 after purchasing an additional 692 shares during the period. Octavia Wealth Advisors LLC increased its position in shares of Abbott Laboratories by 5.4% during the 4th quarter. Octavia Wealth Advisors LLC now owns 3,520 shares of the healthcare product maker’s stock valued at $387,000 after purchasing an additional 181 shares during the period. Finally, Riverstone Advisors LLC bought a new position in Abbott Laboratories during the fourth quarter valued at about $225,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on ABT. Evercore ISI cut their price target 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. Barclays raised their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Citigroup dropped their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. 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 investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Abbott Laboratories Stock Up 0.1 %

NYSE ABT traded up $0.06 during trading on Friday, reaching $111.00. 4,640,889 shares of the company’s stock were exchanged, compared to its average volume of 6,033,337. The company’s fifty day simple moving average is $105.40 and its 200-day simple moving average is $108.81. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a market capitalization of $193.10 billion, a PE ratio of 34.61, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.11 and a debt-to-equity ratio of 0.33.

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

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were paid 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 dividend yield of 1.98%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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.