Abbott Laboratories (NYSE:ABT) Shares Bought by Enzi Wealth

Enzi Wealth grew its position in shares of Abbott Laboratories (NYSE:ABT) by 4.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,785 shares of the healthcare product maker’s stock after purchasing an additional 129 shares during the quarter. Enzi Wealth’s holdings in Abbott Laboratories were worth $290,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ABT. Focus Financial Network Inc. raised its position in shares of Abbott Laboratories by 0.3% in the second quarter. Focus Financial Network Inc. now owns 37,027 shares of the healthcare product maker’s stock worth $3,876,000 after acquiring an additional 110 shares during the period. Hobbs Group Advisors LLC acquired a new position in Abbott Laboratories in the 2nd quarter worth about $146,000. Cidel Asset Management Inc. boosted its position in Abbott Laboratories by 9.6% during the second quarter. Cidel Asset Management Inc. now owns 6,640 shares of the healthcare product maker’s stock worth $690,000 after purchasing an additional 584 shares in the last quarter. SeaCrest Wealth Management LLC grew its holdings in Abbott Laboratories by 1.5% in the second quarter. SeaCrest Wealth Management LLC now owns 14,190 shares of the healthcare product maker’s stock valued at $1,474,000 after purchasing an additional 204 shares during the period. Finally, Pallas Capital Advisors LLC raised its stake in shares of Abbott Laboratories by 2.1% during the 2nd quarter. Pallas Capital Advisors LLC now owns 91,442 shares of the healthcare product maker’s stock worth $9,151,000 after buying an additional 1,910 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 1.0 %

NYSE:ABT traded down $1.13 during trading hours on Tuesday, hitting $110.77. The company had a trading volume of 5,821,544 shares, compared to its average volume of 6,016,167. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a market cap of $192.70 billion, a P/E ratio of 34.70, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a 50-day moving average of $105.56 and a 200 day moving average of $108.71. The company has a current ratio of 1.68, a quick ratio of 1.11 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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. 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 analyst estimates of $10.37 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Abbott Laboratories’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid 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 1.99%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barclays lifted 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. Citigroup decreased their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Finally, Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.