Wallace Advisory Group LLC Boosts Stake in Abbott Laboratories (NYSE:ABT)

Wallace Advisory Group LLC increased its stake in Abbott Laboratories ( NYSE:ABT – Free Report ) by 31.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,207 shares of the healthcare product maker’s stock after acquiring an additional 2,211 shares during the period.

Wallace Advisory Group LLC’s holdings in Abbott Laboratories were worth $957,000 as of its most recent SEC filing. A number of other large investors have also added to or reduced their stakes in ABT. Hanson & Doremus Investment Management increased its position in shares of Abbott Laboratories by 0.



8% during the 2nd quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock valued at $1,160,000 after purchasing an additional 92 shares during the last quarter. Encompass More Asset Management grew its position in Abbott Laboratories by 3.

3% during the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock valued at $312,000 after acquiring an additional 96 shares during the last quarter. Wynn Capital LLC raised its stake in shares of Abbott Laboratories by 2.

9% during the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after acquiring an additional 98 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co LLC lifted its holdings in shares of Abbott Laboratories by 1.

9% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock worth $613,000 after acquiring an additional 100 shares during the last quarter. Finally, Hummer Financial Advisory Services Inc boosted its stake in shares of Abbott Laboratories by 1.

2% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock valued at $942,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 75.

18% of the company’s stock. Analyst Ratings Changes Several analysts have weighed in on the stock. Citigroup boosted their price target on shares of Abbott Laboratories from $119.

00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th.

Evercore ISI reduced their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd.

Barclays boosted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th.

Finally, Jefferies Financial Group restated a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock.

According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $124.00. Abbott Laboratories Stock Performance NYSE:ABT opened at $112.

43 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.

68 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $111.

57 and its 200 day simple moving average is $108.19. The stock has a market cap of $195.

59 billion, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 2.86 and a beta of 0.

72. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.

64. Abbott Laboratories ( NYSE:ABT – Get Free Report ) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.

14 earnings per share 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 firm 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 firm posted $1.08 EPS. The company’s revenue for the quarter was up 4.

0% compared to the same quarter last year. As a group, research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.55 dividend.

This represents a $2.20 annualized dividend and a dividend yield of 1.96%.

The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Activity In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.

41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.

19. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website . 1.

10% of the stock is currently owned by company insiders. Abbott Laboratories Company Profile ( Free Report ) 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. See Also Five stocks we like better than Abbott Laboratories Do ETFs Pay Dividends? What You Need to Know Simon Property REIT: A Safe Bet for Growth and Steady Dividends Transportation Stocks Investing CarMax’s Impressive Rally: What Investors Should Watch Next 3 Small Caps With Big Return Potential MarketBeat Week in Review – 9/23 – 9/27 Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter .

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