Abbott Laboratories (NYSE:ABT) Stock Holdings Trimmed by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,250 shares of the healthcare product maker’s stock after selling 4,060 shares during the period. Abbott Laboratories makes up about 2.2% of CHICAGO TRUST Co NA’s portfolio, making the stock its 7th biggest position. CHICAGO TRUST Co NA’s holdings in Abbott Laboratories were worth $10,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Signature Resources Capital Management LLC purchased a new position in Abbott Laboratories during the fourth quarter worth $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Finally, True Wealth Design LLC boosted its holdings in Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 302 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABT has been the topic of a number of recent analyst reports. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a report 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 report on Monday, July 29th. Raymond James reaffirmed a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock traded down $1.05 on Friday, hitting $108.71. The stock had a trading volume of 5,415,999 shares, compared to its average volume of 6,049,857. The stock has a market cap of $189.12 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The business’s 50 day moving average is $104.94 and its two-hundred day moving average is $108.90. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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 business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. Analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.02%. The ex-dividend date is 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.