Choreo LLC cut its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,775 shares of the healthcare product maker's stock after selling 9,810 shares during the quarter. Choreo LLC's holdings in Abbott Laboratories were worth $14,429,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $2,373,461,000. T. Rowe Price Investment Management Inc. increased its position in shares of Abbott Laboratories by 383.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock worth $945,453,000 after purchasing an additional 6,628,310 shares during the last quarter. GAMMA Investing LLC grew its stake 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 valued at $676,866,000 after buying an additional 5,069,771 shares in the last quarter. Capital International Investors grew its position 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 buying an additional 2,229,026 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Abbott Laboratories by 10.3% during the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock worth $2,494,851,000 after buying an additional 2,060,650 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.
Abbott Laboratories Stock Up 0.1%
ABT traded up $0.15 during trading hours on Tuesday, hitting $124.57. 1,553,283 shares of the company's stock were exchanged, compared to its average volume of 6,224,271. Abbott Laboratories has a 1-year low of $99.92 and a 1-year high of $141.23. The stock's 50-day moving average is $132.98 and its two-hundred day moving average is $129.68. The stock has a market cap of $216.74 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 2.35 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.
Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The company also recently announced 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 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.
Wall Street Analyst Weigh In
ABT has been the subject of several recent research reports. Mizuho increased their price target on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Piper Sandler reissued an "overweight" rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Wells Fargo & Company lowered their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price target for the stock from $143.00 to $145.00 in a research report on Friday. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.
Get Our Latest Analysis 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.
See Also
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