Boston Financial Mangement LLC Has $6.76 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Boston Financial Mangement LLC boosted its position in Abbott Laboratories (NYSE:ABT) by 2.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,092 shares of the healthcare product maker’s stock after buying an additional 1,464 shares during the period. Boston Financial Mangement LLC’s holdings in Abbott Laboratories were worth $6,764,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Abbott Laboratories by 28.4% during the fourth quarter. International Assets Investment Management LLC now owns 12,257 shares of the healthcare product maker’s stock worth $1,349,000 after purchasing an additional 2,714 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in Abbott Laboratories during the 4th quarter valued at $1,075,000. Capital Investment Counsel Inc acquired a new position in Abbott Laboratories during the fourth quarter worth $232,000. Gilbert & Cook Inc. lifted its stake in shares of Abbott Laboratories by 17.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock valued at $832,000 after buying an additional 1,120 shares in the last quarter. Finally, Mather Group LLC. grew its holdings in shares of Abbott Laboratories by 2.2% during the fourth quarter. Mather Group LLC. now owns 35,931 shares of the healthcare product maker’s stock valued at $3,955,000 after buying an additional 789 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded up $0.51 during mid-day trading on Friday, reaching $113.27. 4,320,072 shares of the company’s stock were exchanged, compared to its average volume of 5,906,677. The business’s fifty day simple moving average is $106.82 and its 200 day simple moving average is $108.75. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The firm has a market capitalization of $197.05 billion, a PE ratio of 35.29, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. On average, sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Monday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of analyst reports. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI dropped their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Barclays raised their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $121.80.

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.