AlTi Global Inc. Grows Stock Position in Abbott Laboratories (NYSE:ABT)

AlTi Global Inc. boosted its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,969 shares of the healthcare product maker's stock after acquiring an additional 3,267 shares during the period. AlTi Global Inc.'s holdings in Abbott Laboratories were worth $3,289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ABT. Norges Bank purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $2,373,461,000. T. Rowe Price Investment Management Inc. increased its holdings in Abbott Laboratories by 383.1% during 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 purchasing an additional 6,628,310 shares during the period. Raymond James Financial Inc. purchased a new stake in Abbott Laboratories in the fourth quarter worth $635,056,000. Capital International Investors increased its position in shares of Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock valued at $7,688,160,000 after buying an additional 2,229,026 shares during the period. Finally, Northern Trust Corp raised its position in shares of Abbott Laboratories by 10.3% in 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 acquiring an additional 2,060,650 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now owns 74,381 shares of the company's stock, valued at approximately $10,277,222.77. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,278 shares of company stock worth $12,745,859. 0.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Piper Sandler restated an "overweight" rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research report on Thursday, April 17th. Finally, Royal Bank of Canada upped their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.59.

Abbott Laboratories Price Performance

ABT traded up $1.09 during trading on Thursday, hitting $135.04. 1,876,125 shares of the company traded hands, compared to its average volume of 6,112,585. The company has a market cap of $234.95 billion, a PE ratio of 17.65, a P/E/G ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock's 50-day simple moving average is $130.01 and its two-hundred day simple moving average is $123.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

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.