Illinois Municipal Retirement Fund cut its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 6.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 211,788 shares of the healthcare product maker's stock after selling 13,828 shares during the period. Illinois Municipal Retirement Fund's holdings in Abbott Laboratories were worth $21,744,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Abbott Laboratories by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 175,556,716 shares of the healthcare product maker's stock valued at $21,995,501,000 after buying an additional 2,402,408 shares during the period. State Street Corp increased its stake in shares of Abbott Laboratories by 2.1% in the fourth quarter. State Street Corp now owns 79,853,782 shares of the healthcare product maker's stock worth $10,004,880,000 after acquiring an additional 1,627,791 shares during the last quarter. Capital International Investors raised its holdings in shares of Abbott Laboratories by 2.6% during the fourth quarter. Capital International Investors now owns 63,229,445 shares of the healthcare product maker's stock worth $7,922,519,000 after acquiring an additional 1,614,706 shares in the last quarter. J. Stern & Co. LLP boosted its position in Abbott Laboratories by 12,439.6% during the fourth quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker's stock valued at $4,926,279,000 after purchasing an additional 39,005,451 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Abbott Laboratories by 1.0% during the fourth quarter. Capital Research Global Investors now owns 39,169,239 shares of the healthcare product maker's stock valued at $4,907,523,000 after purchasing an additional 400,400 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.
Abbott Laboratories Price Performance
NYSE ABT opened at $89.27 on Thursday. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $137.49. The stock's 50-day moving average is $89.33 and its two-hundred day moving average is $102.36. The firm has a market cap of $155.49 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 1.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01.
Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.01. The company had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $10.99 billion. Abbott Laboratories had a return on equity of 17.62% and a net margin of 13.90%.The firm's revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 EPS. On average, analysts anticipate that Abbott Laboratories will post 5.48 earnings per share for the current fiscal year.
Abbott Laboratories Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, July 15th. Abbott Laboratories's payout ratio is 70.59%.
Insider Buying and Selling
In other news, Director Daniel J. Starks acquired 10,000 shares of Abbott Laboratories stock in a transaction dated Monday, April 27th. The stock was acquired at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the completion of the purchase, the director owned 6,751,103 shares of the company's stock, valued at $625,489,692.95. This represents a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Philip P. Boudreau acquired 2,200 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average cost of $91.50 per share, with a total value of $201,300.00. Following the completion of the acquisition, the chief financial officer owned 2,200 shares in the company, valued at $201,300. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.46% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on ABT shares. Robert W. Baird assumed coverage on Abbott Laboratories in a research report on Wednesday, July 1st. They issued an "outperform" rating and a $121.00 target price on the stock. Raymond James Financial reduced their price target on Abbott Laboratories from $130.00 to $115.00 and set an "outperform" rating for the company in a report on Friday, April 17th. The Goldman Sachs Group dropped their price objective on Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Evercore cut their price objective on shares of Abbott Laboratories from $134.00 to $120.00 and set an "outperform" rating on the stock in a research report on Friday, April 17th. Finally, Daiwa Securities Group cut shares of Abbott Laboratories from an "outperform" rating to a "neutral" rating and set a $92.00 target price for the company. in a research note on Wednesday, April 22nd. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $117.61.
Check Out Our Latest Stock Report on Abbott Laboratories
About Abbott Laboratories
(
Free Report)
Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.
In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.
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