Motiv8 Investments LLC Buys 451 Shares of Abbott Laboratories (NYSE:ABT)

Motiv8 Investments LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,168 shares of the healthcare product maker’s stock after acquiring an additional 451 shares during the period. Motiv8 Investments LLC’s holdings in Abbott Laboratories were worth $745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Chicago Capital LLC raised its stake in shares of Abbott Laboratories by 6.0% during the second quarter. Chicago Capital LLC now owns 44,626 shares of the healthcare product maker’s stock worth $4,637,000 after buying an additional 2,516 shares during the last quarter. Greystone Financial Group LLC raised its stake in shares of Abbott Laboratories by 18.2% during the second quarter. Greystone Financial Group LLC now owns 99,323 shares of the healthcare product maker’s stock worth $10,321,000 after buying an additional 15,293 shares during the last quarter. One Wealth Management Investment & Advisory Services LLC raised its stake in shares of Abbott Laboratories by 3.0% during the second quarter. One Wealth Management Investment & Advisory Services LLC now owns 10,313 shares of the healthcare product maker’s stock worth $1,072,000 after buying an additional 301 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Abbott Laboratories by 8.1% during the second quarter. Illinois Municipal Retirement Fund now owns 183,003 shares of the healthcare product maker’s stock worth $19,016,000 after buying an additional 13,694 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its stake in shares of Abbott Laboratories by 13.2% during the second quarter. Sivia Capital Partners LLC now owns 3,443 shares of the healthcare product maker’s stock worth $358,000 after buying an additional 402 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Up 0.7 %

ABT traded up $0.76 during trading hours on Friday, hitting $113.86. 3,802,320 shares of the company’s stock were exchanged, compared to its average volume of 5,855,512. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The stock’s 50-day moving average is $107.87 and its two-hundred day moving average is $108.79. The stock has a market cap of $198.07 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 2.82 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping 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 analysts’ expectations of $10.37 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date was Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABT. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Citigroup boosted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Barclays boosted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories Company 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.