Abbott Laboratories (NYSE:ABT) Shares Acquired by Harfst & Associates Inc.

Harfst & Associates Inc. boosted its position in Abbott Laboratories (NYSE:ABT) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,217 shares of the healthcare product maker’s stock after buying an additional 424 shares during the quarter. Harfst & Associates Inc.’s holdings in Abbott Laboratories were worth $1,997,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Encompass More Asset Management boosted its stake 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 acquiring an additional 96 shares during the period. Wynn Capital LLC grew its stake in Abbott Laboratories by 2.9% during the 1st quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after buying an additional 98 shares during the last quarter. Berger Financial Group Inc increased its position in Abbott Laboratories by 3.0% in the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after buying an additional 99 shares during the period. Bfsg LLC boosted its holdings in shares of 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 acquiring an additional 100 shares during the period. Finally, NORTHSTAR ASSET MANAGEMENT Co LLC increased its holdings in shares of Abbott Laboratories by 1.9% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock worth $613,000 after acquiring an additional 100 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABT has been the subject of a number of analyst reports. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Barclays boosted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Citigroup boosted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories Stock Up 0.5 %

NYSE ABT traded up $0.51 during trading on Monday, reaching $113.27. The company’s stock had a trading volume of 4,320,100 shares, compared to its average volume of 5,906,677. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $197.05 billion, a PE ratio of 35.29, a PEG ratio of 2.82 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The business has a 50-day moving average price of $106.97 and a 200-day moving average price of $108.71.

Abbott Laboratories (NYSE:ABT) last announced 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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s dividend payout ratio 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.