Abbott Laboratories (NYSE:ABT) Holdings Lifted by Brooklyn Investment Group

Brooklyn Investment Group boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 41.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,897 shares of the healthcare product maker’s stock after buying an additional 4,941 shares during the quarter. Brooklyn Investment Group’s holdings in Abbott Laboratories were worth $1,911,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ABT. Edgestream Partners L.P. boosted its stake in shares of Abbott Laboratories by 506.9% during the 2nd quarter. Edgestream Partners L.P. now owns 15,987 shares of the healthcare product maker’s stock worth $1,661,000 after acquiring an additional 13,353 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Abbott Laboratories by 10.0% in the second quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker’s stock worth $3,670,000 after buying an additional 3,200 shares during the period. Ieq Capital LLC boosted its holdings in shares of Abbott Laboratories by 2.0% in the second quarter. Ieq Capital LLC now owns 108,990 shares of the healthcare product maker’s stock worth $11,325,000 after buying an additional 2,154 shares during the period. GM Advisory Group LLC boosted its holdings in shares of Abbott Laboratories by 2.4% in the second quarter. GM Advisory Group LLC now owns 4,979 shares of the healthcare product maker’s stock worth $517,000 after buying an additional 116 shares during the period. Finally, Clifford Group LLC boosted its stake in Abbott Laboratories by 1.8% in the 2nd quarter. Clifford Group LLC now owns 5,756 shares of the healthcare product maker’s stock worth $598,000 after purchasing an additional 103 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

Shares of Abbott Laboratories stock opened at $113.45 on Friday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $115.00 and a two-hundred day moving average price of $112.66. The stock has a market capitalization of $196.78 billion, a P/E ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. Equities analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.08%. Abbott Laboratories’s payout ratio is presently 66.87%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ABT shares. Evercore ISI raised their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Jefferies Financial Group raised their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. UBS Group raised their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays raised their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Raymond James reissued a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $131.57.

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.