Jennison Associates LLC raised its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 55.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,866,391 shares of the healthcare product maker's stock after purchasing an additional 665,027 shares during the quarter. Jennison Associates LLC owned 0.11% of Abbott Laboratories worth $247,577,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after acquiring an additional 4,755 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Abbott Laboratories by 99.5% in the 4th quarter. Proficio Capital Partners LLC now owns 8,896 shares of the healthcare product maker's stock valued at $1,006,000 after purchasing an additional 4,437 shares in the last quarter. Brooklyn FI LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $1,108,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Abbott Laboratories in the fourth quarter worth about $286,000. 75.18% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories Stock Performance
ABT stock traded up $2.15 during mid-day trading on Monday, reaching $125.82. 3,320,301 shares of the stock traded hands, compared to its average volume of 6,215,085. 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 has a 52 week low of $99.92 and a 52 week high of $141.23. The business has a 50-day moving average of $132.98 and a two-hundred day moving average of $129.68. The firm has a market capitalization of $218.90 billion, a PE ratio of 15.78, a P/E/G ratio of 2.35 and a beta of 0.73.
Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion during 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 18.83%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. As a group, equities analysts predict that Abbott Laboratories will post 5.14 EPS 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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.
Analyst Ratings Changes
A number of analysts have recently weighed in on ABT shares. Piper Sandler reiterated 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. Royal Bank Of Canada lifted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a report on Thursday. BTIG Research decreased their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday. Finally, Leerink Partners initiated coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price target for the company. Five investment 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 stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $144.47.
View Our Latest Stock Analysis on Abbott Laboratories
Insider Activity at Abbott Laboratories
In other news, Director Sally E. Blount sold 2,600 shares of the company'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 transaction, the director owned 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company's stock.
About Abbott Laboratories
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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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