GEM Asset Management LLC Has $391,000 Stock Position in Abbott Laboratories (NYSE:ABT)

GEM Asset Management LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,762 shares of the healthcare product maker’s stock after acquiring an additional 150 shares during the quarter. GEM Asset Management LLC’s holdings in Abbott Laboratories were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ABT. Norges Bank bought a new stake in Abbott Laboratories during the 4th quarter valued at $2,115,836,000. Vanguard Group Inc. increased its position in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after acquiring an additional 8,834,840 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Abbott Laboratories by 9.5% in the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after acquiring an additional 7,527,778 shares during the last quarter. Capital International Investors lifted its position in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after acquiring an additional 5,882,780 shares in the last quarter. Finally, Swedbank AB acquired a new position in Abbott Laboratories during the 1st quarter valued at about $341,777,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABT shares. The Goldman Sachs Group began coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Citigroup increased their target price 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. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Finally, Barclays upped their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Stock Up 0.5 %

ABT opened at $117.05 on Wednesday. The company’s 50-day moving average price is $108.42 and its two-hundred day moving average price is $108.63. 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 has a twelve month low of $89.67 and a twelve month high of $121.64. The stock has a market cap of $203.62 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 2.83 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. As a group, equities analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.88%. The ex-dividend date was Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Abbott Laboratories 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.