Abbott Laboratories (NYSE:ABT) Shares Acquired by AIA Group Ltd

Key Points

• AIA Group Ltd increased its stake in Abbott Laboratories by 16.1%, holding 64,208 shares valued at approximately $8.51 million at the end of the first quarter.
• Abbott Laboratories reported a net margin of 32.43% and revenue of $11.14 billion for the last quarter, surpassing analysts' expectations.
• The company declared a quarterly dividend of $0.59 per share, representing an annualized yield of 1.8% and a payout ratio of 29.57%.

AIA Group Ltd grew its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 16.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,208 shares of the healthcare product maker's stock after purchasing an additional 8,901 shares during the quarter. AIA Group Ltd's holdings in Abbott Laboratories were worth $8,517,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth $28,000. Wormser Freres Gestion acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth $32,000. JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth $32,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

NYSE ABT traded down $1.63 during trading hours on Wednesday, reaching $129.39. The company's stock had a trading volume of 6,723,731 shares, compared to its average volume of 8,025,790. 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 business has a 50-day simple moving average of $131.52 and a 200 day simple moving average of $131.15. Abbott Laboratories has a 52 week low of $107.71 and a 52 week high of $141.23. The stock has a market cap of $225.20 billion, a PE ratio of 16.21, a PEG ratio of 2.48 and a beta of 0.70.

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. The company had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. Equities research analysts predict 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. Stockholders of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's payout ratio is 29.57%.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent research reports. BTIG Research lowered their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price target for the company from $143.00 to $145.00 in a report on Friday, July 18th. Mizuho increased their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley upped their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $144.47.

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.