Coign Capital Advisors LLC Takes Position in Abbott Laboratories (NYSE:ABT)

Key Points

• Coign Capital Advisors LLC has invested approximately $552,000 in Abbott Laboratories, acquiring 4,162 shares during the first quarter.
• Abbott Laboratories reported a 7.4% year-over-year revenue increase to $11.14 billion for the most recent quarter, matching analysts' earnings expectations with $1.26 EPS.
• The company has declared a quarterly dividend of $0.59 per share, with an annualized yield of 1.8%, to be paid on August 15th.

Coign Capital Advisors LLC bought a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 4,162 shares of the healthcare product maker's stock, valued at approximately $552,000.

Other large investors also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth about $25,000. Hughes Financial Services LLC bought a new position in Abbott Laboratories in the first quarter valued at $27,000. Abound Financial LLC bought a new stake in Abbott Laboratories during the first quarter worth about $28,000. Wormser Freres Gestion acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research reports. Morgan Stanley raised their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and upped their price target for the stock from $143.00 to $145.00 in a report on Friday, July 18th. BTIG Research reduced their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Royal Bank Of Canada lifted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Stifel Nicolaus raised their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $144.47.

Abbott Laboratories Price Performance

ABT stock traded up $2.35 during midday trading on Friday, reaching $134.41. The company had a trading volume of 4,985,430 shares, compared to its average volume of 7,868,751. Abbott Laboratories has a 1 year low of $107.11 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The company has a market capitalization of $233.93 billion, a P/E ratio of 16.84, a P/E/G ratio of 2.50 and a beta of 0.70. The firm has a 50-day moving average price of $131.68 and a 200-day moving average price of $130.85.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the business posted $1.14 earnings per share. The company's revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

About Abbott Laboratories

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.