Sagespring Wealth Partners LLC increased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,499 shares of the healthcare product maker's stock after acquiring an additional 2,763 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Abbott Laboratories were worth $3,515,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Abbott Laboratories in the fourth quarter valued at about $2,373,461,000. T. Rowe Price Investment Management Inc. lifted its position in Abbott Laboratories by 383.1% in the fourth 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 buying an additional 6,628,310 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Abbott Laboratories in the fourth quarter valued at about $635,056,000. GAMMA Investing LLC increased its stake in Abbott Laboratories by 15,420.4% during the first 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. Finally, Capital International Investors increased its stake in 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 worth $7,688,160,000 after purchasing an additional 2,229,026 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on ABT. Barclays boosted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Royal Bank of Canada raised their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Finally, Morgan Stanley raised their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.
Check Out Our Latest Report on ABT
Insider Activity
In other news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were 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 of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company's stock.
Abbott Laboratories Stock Performance
NYSE:ABT opened at $135.41 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The stock has a market cap of $235.59 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. The firm's fifty day simple moving average is $131.50 and its 200-day simple moving average is $126.47.
Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Analysts expect 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. Shareholders of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.74%. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.
About Abbott Laboratories
(
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.
Further Reading
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).
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.
Before you consider Abbott Laboratories, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Abbott Laboratories wasn't on the list.
While Abbott Laboratories currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
