Beacon Investment Advisory Services Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,079 shares of the healthcare product maker's stock after selling 2,085 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Abbott Laboratories were worth $2,000,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ABT. Norges Bank bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $2,373,461,000. T. Rowe Price Investment Management Inc. raised its holdings in Abbott Laboratories by 383.1% during the fourth 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of Abbott Laboratories by 15,420.4% in the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock worth $676,866,000 after buying an additional 5,069,771 shares during the last quarter. Capital International Investors boosted its stake 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 worth $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Abbott Laboratories by 10.3% in 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 acquiring an additional 2,060,650 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.
Wall Street Analyst Weigh In
ABT has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Wells Fargo & Company dropped 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. Raymond James Financial decreased their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Finally, Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Five equities research 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $144.47.
Get Our Latest Stock Report on ABT
Insider Transactions at Abbott Laboratories
In related news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by company insiders.
Abbott Laboratories Stock Down 0.1%
NYSE ABT traded down $0.16 on Thursday, hitting $125.67. 4,707,972 shares of the company were exchanged, compared to its average volume of 7,808,438. Abbott Laboratories has a 12 month low of $99.92 and a 12 month high of $141.23. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The company has a market cap of $218.65 billion, a PE ratio of 15.75, a PEG ratio of 2.39 and a beta of 0.73. The stock has a fifty day moving average of $132.71 and a 200-day moving average of $129.70.
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 (EPS) for the quarter, meeting the consensus estimate of $1.26. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. Abbott Laboratories's revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. As a group, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.
Abbott Laboratories Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.88%. Abbott Laboratories's dividend payout ratio is currently 29.57%.
Abbott Laboratories Company Profile
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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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