Abbott Laboratories (NYSE:ABT) Shares Acquired by Redwood Financial Network Corp

Redwood Financial Network Corp raised its stake in Abbott Laboratories (NYSE:ABT) by 34.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,389 shares of the healthcare product maker’s stock after buying an additional 609 shares during the quarter. Redwood Financial Network Corp’s holdings in Abbott Laboratories were worth $248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in Abbott Laboratories by 28.4% during the 4th quarter. International Assets Investment Management LLC now owns 12,257 shares of the healthcare product maker’s stock worth $1,349,000 after acquiring an additional 2,714 shares during the period. Gilbert & Cook Inc. lifted its holdings in Abbott Laboratories by 17.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock worth $832,000 after purchasing an additional 1,120 shares during the period. Accretive Wealth Partners LLC grew its position in Abbott Laboratories by 1.2% in the 4th quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after buying an additional 152 shares in the last quarter. Aveo Capital Partners LLC increased its stake in Abbott Laboratories by 13.3% during the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock valued at $388,000 after buying an additional 413 shares during the period. Finally, Gryphon Financial Partners LLC raised its position in shares of Abbott Laboratories by 3.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock worth $12,252,000 after buying an additional 3,767 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ABT shares. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Evercore ISI cut their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Finally, Citigroup upped their price target 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. 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Trading Up 2.3 %

Shares of ABT opened at $116.43 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The stock has a market capitalization of $202.58 billion, a P/E ratio of 36.27, a P/E/G ratio of 2.83 and a beta of 0.72. The business’s 50-day moving average price is $108.14 and its 200 day moving average price is $108.65.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (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 analyst estimates of $10.37 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. 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. Stockholders of record on Monday, July 15th were issued a dividend of $0.55 per share. The ex-dividend date was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio is 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.