Abbott Laboratories (NYSE:ABT) Shares Acquired by Jensen Investment Management Inc.

Key Points

• Jensen Investment Management Inc. significantly increased its stake in Abbott Laboratories by 1,221.2% in the first quarter, owning 1,365,785 shares valued at approximately $181 million.
• Abbott Laboratories reported $1.26 EPS, matching estimates, with a quarterly revenue of $11.14 billion, a 7.4% increase compared to the previous year.
• The company announced a quarterly dividend of $0.59 per share, with a dividend yield of 1.8%, to be paid on August 15th.

Jensen Investment Management Inc. raised its position in Abbott Laboratories (NYSE:ABT - Free Report) by 1,221.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,365,785 shares of the healthcare product maker's stock after acquiring an additional 1,262,407 shares during the quarter. Abbott Laboratories makes up 2.0% of Jensen Investment Management Inc.'s investment portfolio, making the stock its 20th largest position. Jensen Investment Management Inc. owned 0.08% of Abbott Laboratories worth $181,171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Park Advisors LLC purchased a new position in Abbott Laboratories during the fourth quarter valued at $25,000. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories during the first quarter valued at approximately $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth $28,000. Wormser Freres Gestion bought a new stake in Abbott Laboratories during the fourth quarter valued at about $32,000. Finally, JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $32,000. Institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

ABT has been the topic of several recent analyst reports. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Mizuho upped their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Morgan Stanley boosted their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Barclays boosted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Finally, Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Abbott Laboratories Trading Up 1.8%

Shares of NYSE ABT traded up $2.35 during trading hours on Friday, reaching $134.41. The stock had a trading volume of 4,985,430 shares, compared to its average volume of 7,868,751. Abbott Laboratories has a 52-week low of $107.11 and a 52-week high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The business's fifty day moving average price is $131.68 and its two-hundred day moving average price is $130.85. The firm has a market cap of $233.93 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 2.50 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. 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 firm posted $1.14 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. Analysts expect that Abbott Laboratories will post 5.14 EPS 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. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories's payout ratio is currently 29.57%.

Abbott Laboratories Company 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.