2,589 Shares in Abbott Laboratories (NYSE:ABT) Bought by Fiduciary Financial Group LLC

Fiduciary Financial Group LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,589 shares of the healthcare product maker’s stock, valued at approximately $266,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clear Harbor Asset Management LLC grew its position in Abbott Laboratories by 9.7% in the second quarter. Clear Harbor Asset Management LLC now owns 50,776 shares of the healthcare product maker’s stock valued at $5,276,000 after acquiring an additional 4,500 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. grew its holdings in Abbott Laboratories by 12.8% during the 2nd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 11,868 shares of the healthcare product maker’s stock valued at $1,233,000 after purchasing an additional 1,351 shares in the last quarter. Whitener Capital Management Inc. lifted its holdings in Abbott Laboratories by 8.3% in the 2nd quarter. Whitener Capital Management Inc. now owns 26,616 shares of the healthcare product maker’s stock worth $2,766,000 after buying an additional 2,035 shares in the last quarter. Brown Lisle Cummings Inc. boosted its position in Abbott Laboratories by 46.3% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 3,554 shares of the healthcare product maker’s stock valued at $369,000 after buying an additional 1,124 shares during the last quarter. Finally, Welch Group LLC grew its stake in shares of Abbott Laboratories by 5.1% during the second quarter. Welch Group LLC now owns 60,571 shares of the healthcare product maker’s stock valued at $6,294,000 after acquiring an additional 2,945 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ABT. Barclays increased their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Evercore ISI dropped their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective on the stock. Citigroup cut their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.00.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded up $0.06 during trading on Friday, hitting $111.00. 4,627,433 shares of the company traded hands, compared to its average volume of 6,033,353. The stock has a market capitalization of $193.10 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $105.40 and its 200-day moving average is $108.81.

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 analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion during 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 revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 EPS. As a group, equities analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders 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 yield of 1.98%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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.