Inspirion Wealth Advisors LLC Boosts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Inspirion Wealth Advisors LLC increased its position in Abbott Laboratories (NYSE:ABT) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 201,887 shares of the healthcare product maker’s stock after acquiring an additional 6,028 shares during the period. Abbott Laboratories comprises approximately 3.2% of Inspirion Wealth Advisors LLC’s holdings, making the stock its 11th largest position. Inspirion Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $20,978,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Signature Resources Capital Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter worth $30,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories in the fourth quarter worth $29,000. Transcendent Capital Group LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at $29,000. Finally, True Wealth Design LLC lifted its holdings 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 valued at $35,000 after acquiring an additional 302 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded down $1.05 on Friday, hitting $108.71. 5,435,152 shares of the company were exchanged, compared to its average volume of 6,049,857. The company has a current ratio of 1.68, a quick ratio of 1.11 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $104.94 and its 200 day moving average price is $108.86. The firm has a market capitalization of $189.12 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the previous year, the business posted $1.08 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Sell-side analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 2.02%. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Ratings Changes

ABT has been the topic of several analyst reports. Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Citigroup reduced their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. The Goldman Sachs Group assumed 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. Finally, Barclays increased their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.00.

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.