Lynch & Associates IN Purchases 1,394 Shares of Abbott Laboratories (NYSE:ABT)

Lynch & Associates IN grew its position in Abbott Laboratories (NYSE:ABT) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,105 shares of the healthcare product maker’s stock after purchasing an additional 1,394 shares during the quarter. Abbott Laboratories makes up about 1.3% of Lynch & Associates IN’s portfolio, making the stock its 24th largest position. Lynch & Associates IN’s holdings in Abbott Laboratories were worth $5,934,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ABT. International Assets Investment Management LLC raised its position in shares of Abbott Laboratories by 28.4% in the 4th quarter. International Assets Investment Management LLC now owns 12,257 shares of the healthcare product maker’s stock worth $1,349,000 after acquiring an additional 2,714 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Abbott Laboratories by 17.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock worth $832,000 after purchasing an additional 1,120 shares in the last quarter. Accretive Wealth Partners LLC lifted its stake in Abbott Laboratories by 1.2% in the fourth quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after buying an additional 152 shares during the period. Aveo Capital Partners LLC grew its position in shares of Abbott Laboratories by 13.3% during the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock worth $388,000 after buying an additional 413 shares during the period. Finally, Gryphon Financial Partners LLC increased its stake in shares of Abbott Laboratories by 3.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock valued at $12,252,000 after acquiring an additional 3,767 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Evercore ISI lowered their target price 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $113.86 on Friday. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market cap of $198.07 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.82 and a beta of 0.72. The stock’s fifty day simple moving average is $107.87 and its two-hundred day simple moving average is $108.73.

Abbott Laboratories (NYSE:ABT) last announced its 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 firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 EPS. As a group, analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.