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Koss Olinger Consulting LLC Invests $448,000 in Abbott Laboratories (NYSE:ABT)

Abbott Laboratories logo with Medical background

Key Points

  • Koss Olinger Consulting LLC has invested approximately $448,000 in Abbott Laboratories (NYSE: ABT), purchasing 3,377 shares in the 1st quarter of the year.
  • Abbott Laboratories reported $1.26 earnings per share for the quarter, meeting expectations, while its revenue increased by 7.4% year over year to $11.14 billion.
  • The company declared a quarterly dividend of $0.59 per share, which equates to an annual yield of 1.8%, with the payment scheduled for August 15th.
  • Looking to Export and Analyze Abbott Laboratories Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Koss Olinger Consulting LLC purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,377 shares of the healthcare product maker's stock, valued at approximately $448,000.

Several other institutional investors have also recently added to or reduced their stakes in ABT. T. Rowe Price Investment Management Inc. increased its position in Abbott Laboratories by 383.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock valued at $945,453,000 after acquiring an additional 6,628,310 shares during the period. GAMMA Investing LLC increased its position in Abbott Laboratories by 15,420.4% during the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock worth $676,866,000 after purchasing an additional 5,069,771 shares during the period. Goldman Sachs Group Inc. increased its position in Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after purchasing an additional 3,616,471 shares during the period. Capital International Investors increased its position in Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after purchasing an additional 2,229,026 shares during the period. Finally, Northern Trust Corp increased its position in Abbott Laboratories by 10.3% during the 4th quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock worth $2,494,851,000 after purchasing an additional 2,060,650 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Up 1.8%

Shares of NYSE ABT opened at $134.41 on Friday. Abbott Laboratories has a 12-month low of $107.11 and a 12-month high of $141.23. The company has a market cap of $233.93 billion, a P/E ratio of 16.84, a P/E/G ratio of 2.55 and a beta of 0.70. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $131.69 and a 200 day moving average price of $131.07.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm earned $1.14 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BTIG Research decreased their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price target for the company from $143.00 to $145.00 in a report on Friday, July 18th. Leerink Partners started coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Morgan Stanley boosted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $144.47.

Read Our Latest Analysis on Abbott Laboratories

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

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT - Free Report).

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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