Mitchell Sinkler & Starr PA Acquires 1,892 Shares of Abbott Laboratories (NYSE:ABT)

Mitchell Sinkler & Starr PA raised its holdings in Abbott Laboratories (NYSE:ABT) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 110,572 shares of the healthcare product maker’s stock after purchasing an additional 1,892 shares during the quarter. Abbott Laboratories makes up about 2.8% of Mitchell Sinkler & Starr PA’s investment portfolio, making the stock its 8th largest position. Mitchell Sinkler & Starr PA’s holdings in Abbott Laboratories were worth $11,114,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories in the first quarter valued at about $30,000. Finally, True Wealth Design LLC increased its position in Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares during the period. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research reports. Citigroup upped their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Finally, Evercore ISI cut their target price 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories Stock Up 0.5 %

Shares of Abbott Laboratories stock opened at $117.05 on Wednesday. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The company has a market capitalization of $203.62 billion, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 2.83 and a beta of 0.72. The business has a 50-day moving average of $108.42 and a two-hundred day moving average of $108.63.

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. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $1.08 EPS. As a group, equities analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.