BNC Wealth Management LLC acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 23,501 shares of the healthcare product maker's stock, valued at approximately $3,117,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Abbott Laboratories by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock worth $19,075,481,000 after purchasing an additional 739,260 shares in the last quarter. Capital International Investors increased its stake in shares of Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after purchasing an additional 2,229,026 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Abbott Laboratories by 1.5% during the fourth quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock worth $6,118,903,000 after purchasing an additional 795,073 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Abbott Laboratories by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock worth $4,023,027,000 after purchasing an additional 765,636 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Abbott Laboratories by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock worth $2,985,233,000 after purchasing an additional 581,325 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.
Abbott Laboratories Trading Down 0.8%
NYSE:ABT traded down $1.04 on Friday, hitting $135.41. The stock had a trading volume of 3,927,244 shares, compared to its average volume of 6,107,754. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market cap of $235.59 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.52 and a beta of 0.73. The company has a fifty day moving average price of $131.50 and a two-hundred day moving average price of $126.42. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23.
Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal 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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.74%. Abbott Laboratories's dividend payout ratio is currently 30.61%.
Insider Transactions at Abbott Laboratories
In other news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on ABT shares. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Raymond James boosted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Royal Bank of Canada boosted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Piper Sandler restated an "overweight" rating and set a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $142.59.
Check Out Our Latest Report on Abbott Laboratories
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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