Legacy Advisors LLC Purchases 1,022 Shares of Abbott Laboratories (NYSE:ABT)

Legacy Advisors LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,152 shares of the healthcare product maker’s stock after acquiring an additional 1,022 shares during the period. Legacy Advisors LLC’s holdings in Abbott Laboratories were worth $3,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth $28,000. Signature Resources Capital Management LLC acquired a new position in Abbott Laboratories during the fourth quarter worth about $29,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at approximately $30,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABT. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research 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 set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Finally, Citigroup upped their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Trading Up 0.5 %

NYSE:ABT opened at $113.27 on Friday. Abbott Laboratories has a 52 week low of $89.67 and a 52 week 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 firm’s fifty day moving average is $106.97 and its 200-day moving average is $108.76. The firm has a market cap of $197.05 billion, a P/E ratio of 35.29, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued 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. 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 for the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current 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 paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.