Annandale Capital LLC Has $3.82 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Key Points

• Annandale Capital LLC decreased its position in Abbott Laboratories by 11.9%, holding a total of 28,812 shares valued at $3.82 million after the sale of 3,882 shares in the first quarter.
• Abbott Laboratories recently reported earnings of $1.26 EPS, meeting expectations, with revenues of $11.14 billion for the quarter, up 7.4% from the previous year.
• The company also announced a quarterly dividend of $0.59 per share, representing a 1.8% yield, to be paid on August 15th.

Annandale Capital LLC lowered its position in Abbott Laboratories (NYSE:ABT - Free Report) by 11.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,812 shares of the healthcare product maker's stock after selling 3,882 shares during the period. Annandale Capital LLC's holdings in Abbott Laboratories were worth $3,822,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Abbott Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock valued at $22,527,039,000 after acquiring an additional 1,177,739 shares in the last quarter. Capital International Investors lifted its stake in Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock valued at $7,688,160,000 after purchasing an additional 2,229,026 shares during the last quarter. Capital Research Global Investors lifted its stake in Abbott Laboratories by 1.5% in the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock valued at $6,118,903,000 after purchasing an additional 795,073 shares during the last quarter. Northern Trust Corp lifted its stake in 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 valued at $2,494,851,000 after purchasing an additional 2,060,650 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Abbott Laboratories by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after acquiring an additional 3,616,471 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on ABT shares. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Mizuho raised their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Barclays raised their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Four investment 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded down $1.63 during midday trading on Wednesday, reaching $129.39. 6,723,731 shares of the company were exchanged, compared to its average volume of 8,025,790. The stock's 50-day moving average price is $131.52 and its 200-day moving average price is $131.15. The stock has a market cap of $225.20 billion, a P/E ratio of 16.21, a PEG ratio of 2.48 and a beta of 0.70. Abbott Laboratories has a one year low of $107.71 and a one year high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

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

Abbott Laboratories Announces Dividend

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

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

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.