Cooper Financial Group Buys 107 Shares of Abbott Laboratories (NYSE:ABT)

Cooper Financial Group grew its stake in Abbott Laboratories (NYSE:ABT) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,052 shares of the healthcare product maker’s stock after purchasing an additional 107 shares during the period. Cooper Financial Group’s holdings in Abbott Laboratories were worth $421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Signature Resources Capital Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth about $30,000. Finally, True Wealth Design LLC lifted its holdings in Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.3 %

ABT traded up $0.35 on Tuesday, hitting $108.15. 2,110,581 shares of the company were exchanged, compared to its average volume of 6,016,354. The stock’s fifty day moving average is $105.04 and its 200-day moving average is $108.81. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.11 and a current ratio of 1.68. The company has a market cap of $188.14 billion, a PE ratio of 33.75, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 earnings per share. Equities research analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 2.03%. Abbott Laboratories’s dividend payout ratio is 68.54%.

Analysts Set New Price Targets

ABT has been the topic of several recent analyst reports. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. 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. Barclays boosted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Citigroup lowered their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

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.