Abbott Laboratories (NYSE:ABT) Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Abbott Laboratories by 0.7% during the first quarter, now holding about 169.8 million shares, which is worth approximately $22.5 billion.
• Several analysts have upgraded their ratings for Abbott Laboratories, with the consensus rating being a "Moderate Buy" and a price target of $144.47.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, with the next payment set for August 15, reflecting an annual yield of 1.8% and a payout ratio of 29.57%.

Vanguard Group Inc. boosted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,823,136 shares of the healthcare product maker's stock after buying an additional 1,177,739 shares during the period. Vanguard Group Inc. owned approximately 9.76% of Abbott Laboratories worth $22,527,039,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth $25,000. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $27,000. Abound Financial LLC purchased a new stake in Abbott Laboratories during the first quarter worth about $28,000. Wormser Freres Gestion purchased a new position in Abbott Laboratories in the fourth quarter valued at about $32,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at approximately $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABT. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price target for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Stifel Nicolaus boosted 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 Partners began coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Trading Up 1.8%

Shares of ABT stock traded up $2.35 during mid-day trading on Friday, hitting $134.41. 4,985,430 shares of the company's stock were exchanged, compared to its average volume of 7,868,751. The stock has a market cap of $233.93 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 2.50 and a beta of 0.70. The stock has a 50-day simple moving average of $131.68 and a two-hundred day simple moving average of $130.85. Abbott Laboratories has a fifty-two week low of $107.11 and a fifty-two week 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 posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion during 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 firm's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. Equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared 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 dividend yield of 1.8%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

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.