Abbott Laboratories (NYSE:ABT) Shares Acquired by Keybank National Association OH

Keybank National Association OH boosted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 36.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,325,495 shares of the healthcare product maker's stock after acquiring an additional 351,431 shares during the period. Abbott Laboratories accounts for about 0.7% of Keybank National Association OH's portfolio, making the stock its 28th largest holding. Keybank National Association OH owned approximately 0.08% of Abbott Laboratories worth $175,827,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Abbott Laboratories by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock valued at $19,075,481,000 after acquiring an additional 739,260 shares during the last quarter. Capital International Investors increased its holdings in Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock valued at $7,688,160,000 after purchasing an additional 2,229,026 shares during the last quarter. Capital Research Global Investors raised its position in Abbott Laboratories by 1.5% in the fourth quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock valued at $6,118,903,000 after purchasing an additional 795,073 shares during the period. Geode Capital Management LLC lifted its stake in Abbott Laboratories by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock worth $4,023,027,000 after purchasing an additional 765,636 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Abbott Laboratories by 2.3% in the fourth quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock valued at $2,985,233,000 after buying an additional 581,325 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Trading Down 1.6%

ABT traded down $2.18 on Wednesday, reaching $134.08. 4,319,615 shares of the company's stock were exchanged, compared to its average volume of 6,143,947. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company's 50 day moving average is $133.03 and its 200-day moving average is $127.97. The company has a market cap of $233.28 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.58 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's payout ratio is 30.61%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ABT. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. Barclays raised their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. The Goldman Sachs Group upped their target price on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Royal Bank Of Canada increased 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. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.61.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction dated 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 directly owned 34,058 shares of the company's stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.46% of the company's stock.

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.