Deutsche Bank AG Has $1.50 Billion Stock Position in Abbott Laboratories (NYSE:ABT)

Key Points

• Deutsche Bank AG decreased its stake in Abbott Laboratories by 9.2%, selling over 1.1 million shares, which now comprise about 0.6% of its holdings.
• Abbott Laboratories reported a quarterly earnings per share of **$1.26**, meeting expectations, with revenues of **$11.14 billion**, a 7.4% increase from the previous year.
• A quarterly dividend of **$0.59** has been declared, reflecting an annualized yield of 1.8%, with the ex-dividend date set for **July 15th**.

Deutsche Bank AG trimmed its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,276,775 shares of the healthcare product maker's stock after selling 1,142,163 shares during the period. Abbott Laboratories comprises about 0.6% of Deutsche Bank AG's investment portfolio, making the stock its 24th largest position. Deutsche Bank AG owned 0.65% of Abbott Laboratories worth $1,495,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Redwood Park Advisors LLC bought a new stake in Abbott Laboratories during the fourth quarter worth about $25,000. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories during the 1st quarter valued at $28,000. Wormser Freres Gestion acquired a new stake in Abbott Laboratories during the 4th quarter valued at $32,000. Finally, JCIC Asset Management Inc. bought a new position in Abbott Laboratories in the 1st quarter valued at $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABT shares. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Piper Sandler reissued an "overweight" rating and set a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Leerink Partners started coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Finally, Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and upped their price objective for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Trading Up 1.8%

Shares of Abbott Laboratories stock traded up $2.35 during trading on Friday, hitting $134.41. 4,985,430 shares of the company were exchanged, compared to its average volume of 7,868,751. The firm has a market capitalization of $233.93 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70. The firm's fifty day moving average price is $131.69 and its 200 day moving average price is $130.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a 1-year low of $107.11 and a 1-year high of $141.23.

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

Abbott Laboratories Announces Dividend

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 dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Abbott Laboratories 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.