Coldstream Capital Management Inc. Acquires 5,752 Shares of Abbott Laboratories (NYSE:ABT)

Coldstream Capital Management Inc. lifted its holdings in Abbott Laboratories (NYSE:ABT) by 9.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,228 shares of the healthcare product maker’s stock after acquiring an additional 5,752 shares during the period. Coldstream Capital Management Inc.’s holdings in Abbott Laboratories were worth $6,778,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ABT. Vanguard Group Inc. boosted its stake in Abbott Laboratories by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after buying an additional 701,740 shares during the last quarter. Sanibel Captiva Trust Company Inc. bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $16,764,000. Garde Capital Inc. boosted its stake in Abbott Laboratories by 16.4% during the fourth quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after buying an additional 262 shares during the last quarter. Haverford Trust Co boosted its stake in Abbott Laboratories by 0.7% during the fourth quarter. Haverford Trust Co now owns 93,879 shares of the healthcare product maker’s stock valued at $10,333,000 after buying an additional 664 shares during the last quarter. Finally, Sectoral Asset Management Inc. boosted its stake in Abbott Laboratories by 31.4% during the fourth quarter. Sectoral Asset Management Inc. now owns 68,998 shares of the healthcare product maker’s stock valued at $7,595,000 after buying an additional 16,500 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Citigroup upped their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. The Goldman Sachs Group started coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective on the stock. Barclays upped their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Trading Up 2.3 %

Shares of NYSE ABT opened at $116.43 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The business’s 50 day moving average price is $108.14 and its 200-day moving average price is $108.65. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a market cap of $202.58 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 2.83 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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 return on equity of 20.18% and a net margin of 13.65%. 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 business posted $1.08 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued 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 yield of 1.89%. Abbott Laboratories’s payout ratio is currently 68.54%.

About Abbott Laboratories

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.