Arcadia Investment Management Corp MI Cuts Holdings in Abbott Laboratories (NYSE:ABT)

Arcadia Investment Management Corp MI decreased its position in Abbott Laboratories (NYSE:ABT) by 32.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,598 shares of the healthcare product maker’s stock after selling 2,250 shares during the period. Arcadia Investment Management Corp MI’s holdings in Abbott Laboratories were worth $478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. increased its holdings in Abbott Laboratories by 0.7% in the second quarter. Farmers & Merchants Investments Inc. now owns 184,442 shares of the healthcare product maker’s stock valued at $19,165,000 after buying an additional 1,347 shares in the last quarter. Synergy Asset Management LLC increased its stake in shares of Abbott Laboratories by 66.1% during the second quarter. Synergy Asset Management LLC now owns 69,846 shares of the healthcare product maker’s stock worth $7,258,000 after purchasing an additional 27,792 shares in the last quarter. Blue Barn Wealth LLC increased its stake in shares of Abbott Laboratories by 6.2% during the second quarter. Blue Barn Wealth LLC now owns 3,390 shares of the healthcare product maker’s stock worth $352,000 after purchasing an additional 199 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Abbott Laboratories by 1.0% during the second quarter. Arizona State Retirement System now owns 503,040 shares of the healthcare product maker’s stock worth $52,271,000 after purchasing an additional 4,850 shares in the last quarter. Finally, VELA Investment Management LLC increased its stake in shares of Abbott Laboratories by 9.1% during the second quarter. VELA Investment Management LLC now owns 24,831 shares of the healthcare product maker’s stock worth $2,580,000 after purchasing an additional 2,067 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.5 %

NYSE ABT traded up $0.61 during trading on Friday, hitting $113.71. The stock had a trading volume of 410,759 shares, compared to its average volume of 5,835,794. The company has a market capitalization of $197.81 billion, a PE ratio of 35.23, a PEG ratio of 2.82 and a beta of 0.72. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average price of $107.67 and a 200 day moving average price of $108.79.

Abbott Laboratories (NYSE:ABT) last announced 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. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the prior year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Monday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research reports. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays boosted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Citigroup boosted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Evercore ISI lowered their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

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.