KBC Group NV Has $88.22 Million Stock Position in Abbott Laboratories (NYSE:ABT)

KBC Group NV decreased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 665,075 shares of the healthcare product maker's stock after selling 297,537 shares during the period. KBC Group NV's holdings in Abbott Laboratories were worth $88,223,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABT. Three Seasons Wealth LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth about $1,428,000. Kelly Financial Services LLC acquired a new position in Abbott Laboratories during the 1st quarter worth approximately $216,000. Voleon Capital Management LP bought a new position in Abbott Laboratories in the 4th quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in Abbott Laboratories by 5.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock valued at $133,691,000 after buying an additional 57,499 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its holdings in shares of Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after buying an additional 2,774 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director owned 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Trading Up 0.1%

ABT traded up $0.20 during trading on Tuesday, hitting $136.21. The company's stock had a trading volume of 5,337,610 shares, compared to its average volume of 6,151,242. The firm has a market capitalization of $236.99 billion, a P/E ratio of 17.67, a PEG ratio of 2.58 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The stock's fifty day moving average price is $133.03 and its 200-day moving average price is $127.97.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's payout ratio is 30.61%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent research reports. Piper Sandler reissued an "overweight" rating and set a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Royal Bank Of Canada upped their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. The Goldman Sachs Group lifted their target price 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. Citigroup boosted their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Morgan Stanley raised their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $142.61.

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.