Lakewood Asset Management LLC Sells 107 Shares of Abbott Laboratories (NYSE:ABT)

Lakewood Asset Management LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,225 shares of the healthcare product maker’s stock after selling 107 shares during the quarter. Lakewood Asset Management LLC’s holdings in Abbott Laboratories were worth $231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Signature Resources Capital Management LLC bought a new position in Abbott Laboratories in the 4th quarter valued at about $29,000. Transcendent Capital Group LLC bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in Abbott Laboratories during the fourth quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at $30,000. Finally, True Wealth Design LLC increased its stake in shares of Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.1 %

Shares of Abbott Laboratories stock traded up $0.06 on Friday, reaching $111.00. 4,643,293 shares of the company’s stock were exchanged, compared to its average volume of 6,033,353. The company has a market capitalization of $193.10 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.11 and a current ratio of 1.68. The firm’s 50-day moving average is $105.47 and its two-hundred day moving average is $108.79.

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

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Analysts Set New Price Targets

ABT has been the topic of a number of research analyst reports. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Raymond James reaffirmed a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI cut their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Barclays lifted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $121.00.

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.