GW&K Investment Management LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 347,847 shares of the healthcare product maker's stock after buying an additional 17,485 shares during the period. GW&K Investment Management LLC's holdings in Abbott Laboratories were worth $46,142,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at $2,373,461,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Abbott Laboratories by 383.1% during the 4th 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. GAMMA Investing LLC lifted its position in shares of Abbott Laboratories by 15,420.4% during the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock valued at $676,866,000 after buying an additional 5,069,771 shares during the last quarter. Capital International Investors lifted its position in shares of Abbott Laboratories by 3.4% during 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 buying an additional 2,229,026 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Abbott Laboratories by 10.3% during 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 buying an additional 2,060,650 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on ABT. Stifel Nicolaus raised their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Raymond James Financial cut their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research report on Thursday. Finally, Piper Sandler reiterated an "overweight" rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.
Check Out Our Latest Analysis on ABT
Insider Buying and Selling at Abbott Laboratories
In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director owned 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by insiders.
Abbott Laboratories Price Performance
Shares of Abbott Laboratories stock traded up $0.60 during trading hours on Monday, hitting $124.27. The company's stock had a trading volume of 10,277,368 shares, compared to its average volume of 6,241,259. The business has a 50 day moving average price of $132.98 and a two-hundred day moving average price of $129.68. Abbott Laboratories has a 12-month low of $99.92 and a 12-month high of $141.23. The company has a market cap of $216.21 billion, a PE ratio of 15.57, a PEG ratio of 2.35 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78.
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 (EPS) for the quarter, meeting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 earnings per share. Analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories's payout ratio is 29.57%.
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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