Klingman & Associates LLC Purchases 508 Shares of Abbott Laboratories (NYSE:ABT)

Klingman & Associates LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 7.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,702 shares of the healthcare product maker’s stock after buying an additional 508 shares during the period. Klingman & Associates LLC’s holdings in Abbott Laboratories were worth $800,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABT. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after purchasing an additional 701,740 shares in the last quarter. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $16,764,000. Principal Securities Inc. bought a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $2,932,000. Garde Capital Inc. raised its holdings in shares of Abbott Laboratories by 16.4% during the fourth quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after purchasing an additional 262 shares during the last quarter. Finally, Haverford Trust Co lifted its position in Abbott Laboratories by 0.7% during the fourth quarter. Haverford Trust Co now owns 93,879 shares of the healthcare product maker’s stock valued at $10,333,000 after purchasing an additional 664 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.5 %

Shares of NYSE:ABT opened at $113.27 on Friday. The stock has a 50 day moving average of $106.97 and a 200 day moving average of $108.76. The company has a market cap of $197.05 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.11 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Analyst Ratings Changes

A number of brokerages have weighed in on ABT. Barclays boosted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Citigroup raised their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Finally, Edward Jones downgraded 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 company. According to data from MarketBeat, the stock presently has a consensus 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.