Trust Co. of Oklahoma Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

Trust Co. of Oklahoma trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,256 shares of the healthcare product maker’s stock after selling 112 shares during the quarter. Trust Co. of Oklahoma’s holdings in Abbott Laboratories were worth $546,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Moss Adams Wealth Advisors LLC lifted its holdings in Abbott Laboratories by 11.6% during the second quarter. Moss Adams Wealth Advisors LLC now owns 5,744 shares of the healthcare product maker’s stock valued at $597,000 after purchasing an additional 597 shares in the last quarter. Keeler Thomas Management LLC purchased a new position in Abbott Laboratories in the 2nd quarter valued at about $2,919,000. Stableford Capital II LLC boosted its holdings in Abbott Laboratories by 155.9% in the 2nd quarter. Stableford Capital II LLC now owns 15,353 shares of the healthcare product maker’s stock worth $1,607,000 after buying an additional 9,353 shares during the last quarter. Courier Capital LLC increased its stake in Abbott Laboratories by 1.6% during the 2nd quarter. Courier Capital LLC now owns 22,548 shares of the healthcare product maker’s stock worth $2,343,000 after buying an additional 364 shares in the last quarter. Finally, Rockland Trust Co. lifted its position in shares of Abbott Laboratories by 13.9% in the second quarter. Rockland Trust Co. now owns 111,747 shares of the healthcare product maker’s stock valued at $11,612,000 after acquiring an additional 13,660 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.6 %

Abbott Laboratories stock traded up $0.71 during midday trading on Thursday, reaching $112.10. 3,421,798 shares of the stock traded hands, compared to its average volume of 5,988,217. 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 firm has a market cap of $195.01 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a 50-day simple moving average of $105.80 and a two-hundred day simple moving average of $108.72. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 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 business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter last year, the firm posted $1.08 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were issued a $0.55 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.96%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Evercore ISI dropped their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Raymond James reiterated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

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.