Banco Santander S.A. Buys 14,258 Shares of Abbott Laboratories (NYSE:ABT)

Key Points

• Banco Santander S.A. increased its stake in Abbott Laboratories by 51.3%, acquiring an additional 14,258 shares in the first quarter, raising their total holdings to 42,044 shares worth approximately $5.577 million.
• Abbott Laboratories reported $1.26 EPS for its latest quarter, meeting analysts' expectations, and recorded a revenue of $11.14 billion, surpassing estimates.
• The company declared a quarterly dividend of $0.59 per share, with an annualized dividend yield of 1.9%, set to be paid on August 15th.

Banco Santander S.A. boosted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 51.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,044 shares of the healthcare product maker's stock after acquiring an additional 14,258 shares during the period. Banco Santander S.A.'s holdings in Abbott Laboratories were worth $5,577,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at about $28,000. Redwood Park Advisors LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at about $25,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $32,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $34,000. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Up 0.9%

ABT stock opened at $127.32 on Friday. The company's 50 day moving average is $131.78 and its 200 day moving average is $130.49. The stock has a market cap of $221.52 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 2.41 and a beta of 0.70. Abbott Laboratories has a 1-year low of $107.11 and a 1-year high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company 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 dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories's dividend payout ratio is 29.57%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several research reports. Mizuho boosted their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Wells Fargo & Company lowered their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Piper Sandler reiterated an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, BTIG Research decreased their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Company Profile

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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