Norris Perne & French LLP MI lowered its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 223,227 shares of the healthcare product maker's stock after selling 3,081 shares during the period. Abbott Laboratories makes up approximately 2.2% of Norris Perne & French LLP MI's portfolio, making the stock its 12th biggest holding. Norris Perne & French LLP MI's holdings in Abbott Laboratories were worth $29,611,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Abbott Laboratories by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock worth $19,075,481,000 after acquiring an additional 739,260 shares during the period. Capital International Investors raised its holdings 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 in the last quarter. Capital Research Global Investors lifted its position in Abbott Laboratories by 1.5% in the fourth 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 period. Geode Capital Management LLC boosted its holdings in Abbott Laboratories by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock valued at $4,023,027,000 after purchasing an additional 765,636 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Abbott Laboratories by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock worth $2,985,233,000 after buying an additional 581,325 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.
Abbott Laboratories Trading Up 0.1%
ABT opened at $132.35 on Thursday. The firm has a market capitalization of $230.27 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.51 and a beta of 0.73. The firm's 50 day moving average is $131.91 and its 200-day moving average is $126.66. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.
Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.
Abbott Laboratories Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.78%. Abbott Laboratories's payout ratio is 30.61%.
Insiders Place Their Bets
In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages recently weighed in on ABT. Wells Fargo & Company upped their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. The Goldman Sachs Group raised their price objective 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 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 report on Thursday, April 17th. Bank of America upped their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, Citigroup lifted their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and an average target price of $142.61.
Read Our Latest Stock Analysis on ABT
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.
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