Allianz SE Raises Position in Abbott Laboratories (NYSE:ABT)

Key Points

• Allianz SE increased its holdings in Abbott Laboratories by 23.7%, now owning 91,443 shares valued at approximately $12.13 million.
• Abbott Laboratories reported $1.26 EPS for the last quarter, meeting analysts' expectations, with revenues of $11.14 billion, exceeding forecasts.
• The company declared a quarterly dividend of $0.59 per share, with a yield of 1.9% and a payout ratio of 29.57%.

Allianz SE boosted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 23.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,443 shares of the healthcare product maker's stock after acquiring an additional 17,494 shares during the period. Allianz SE's holdings in Abbott Laboratories were worth $12,130,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at $25,000. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories in the 1st quarter valued at $27,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories in the 1st quarter valued at $28,000. Wormser Freres Gestion bought a new position in shares of Abbott Laboratories in the 4th quarter valued at $32,000. Finally, JCIC Asset Management Inc. bought a new position in shares of Abbott Laboratories in the 1st quarter valued at $32,000. Institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

ABT has been the topic of several recent research reports. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the company from $143.00 to $145.00 in a report on Friday, July 18th. BTIG Research cut their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Morgan Stanley raised their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, Piper Sandler reissued an "overweight" rating and set a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Trading Up 0.2%

ABT stock traded up $0.32 during mid-day trading on Tuesday, reaching $130.25. The company's stock had a trading volume of 1,821,025 shares, compared to its average volume of 6,902,011. The business's 50 day moving average price is $131.76 and its 200 day moving average price is $130.72. Abbott Laboratories has a 12 month low of $107.11 and a 12 month high of $141.23. 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 company has a market cap of $226.62 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.41 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting 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 18.32% and a net margin of 32.43%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. On average, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio 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.