KMG Fiduciary Partners LLC reduced its position in Abbott Laboratories (NYSE:ABT – Free Report) by 44.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,302 shares of the healthcare product maker’s stock after selling 5,735 shares during the period. KMG Fiduciary Partners LLC’s holdings in Abbott Laboratories were worth $663,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Nia Impact Advisors LLC increased its position in Abbott Laboratories by 2.2% during the second quarter. Nia Impact Advisors LLC now owns 3,706 shares of the healthcare product maker’s stock worth $504,000 after buying an additional 79 shares during the period. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Abbott Laboratories by 9.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,031 shares of the healthcare product maker’s stock valued at $140,000 after acquiring an additional 88 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Abbott Laboratories by 0.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 29,411 shares of the healthcare product maker’s stock worth $3,685,000 after acquiring an additional 92 shares during the last quarter. Eley Financial Management Inc increased its holdings in shares of Abbott Laboratories by 0.9% in the 4th quarter. Eley Financial Management Inc now owns 10,817 shares of the healthcare product maker’s stock valued at $1,355,000 after acquiring an additional 92 shares during the period. Finally, Copley Financial Group Inc. boosted its stake in Abbott Laboratories by 2.1% during the 4th quarter. Copley Financial Group Inc. now owns 4,435 shares of the healthcare product maker’s stock worth $556,000 after purchasing an additional 93 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories Trading Up 1.0%
Shares of ABT stock opened at $109.70 on Wednesday. The business’s fifty day moving average price is $96.38 and its 200 day moving average price is $99.71. The firm has a market capitalization of $189.82 billion, a PE ratio of 35.50, a P/E/G ratio of 2.10 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49.
Abbott Laboratories Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.3%. Abbott Laboratories’s payout ratio is currently 81.55%.
Analyst Ratings Changes
Several brokerages have issued reports on ABT. Benchmark dropped their price objective on shares of Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. Oppenheimer decreased their target price on shares of Abbott Laboratories from $132.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Sanford C. Bernstein lowered their price target on Abbott Laboratories from $125.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Leerink Partners reduced their price objective on Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating for the company in a research note on Tuesday, April 21st. Finally, Barclays decreased their price objective on Abbott Laboratories from $144.00 to $143.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $118.17.
Get Our Latest Report on Abbott Laboratories
About Abbott Laboratories
Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.
In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.
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