Narwhal Capital Management Has $2.30 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Narwhal Capital Management decreased its position in Abbott Laboratories (NYSE:ABT) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,154 shares of the healthcare product maker’s stock after selling 282 shares during the period. Narwhal Capital Management’s holdings in Abbott Laboratories were worth $2,302,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ABT. Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays increased their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Stock Up 0.7 %

Shares of NYSE ABT opened at $113.93 on Friday. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The firm’s 50-day simple moving average is $107.87 and its 200 day simple moving average is $108.79. 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 company has a market cap of $198.20 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 2.82 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 earnings per share. On average, research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced 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. The ex-dividend date was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. Abbott Laboratories’s 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.