Metis Global Partners LLC Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

Key Points

• Metis Global Partners LLC increased its ownership in Abbott Laboratories by 15.4%, acquiring an additional 11,595 shares, bringing its total holdings to 86,661 shares valued at approximately $11.5 million.
• Several institutional investors reported significant increases in their positions in Abbott Laboratories, with T. Rowe Price increasing its stake by 383.1% and GAMMA Investing boosting its holdings by 15,420.4%.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, with the ex-dividend date set for July 15, indicating a 1.87% dividend yield based on its annualized payout.

Metis Global Partners LLC grew its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,661 shares of the healthcare product maker's stock after acquiring an additional 11,595 shares during the quarter. Metis Global Partners LLC's holdings in Abbott Laboratories were worth $11,496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABT. Brighton Jones LLC increased its position in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock worth $5,850,000 after purchasing an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG boosted its position in Abbott Laboratories by 1.9% in 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 purchasing an additional 2,774 shares during the last quarter. RiverFront Investment Group LLC lifted its position in shares of Abbott Laboratories by 1.6% during the 4th quarter. RiverFront Investment Group LLC now owns 11,974 shares of the healthcare product maker's stock valued at $1,354,000 after buying an additional 185 shares during the last quarter. Allstate Corp purchased a new stake in Abbott Laboratories during the 4th quarter worth about $5,893,000. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $28,000. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $1.51 during trading on Thursday, reaching $127.04. 2,369,716 shares of the company traded hands, compared to its average volume of 6,928,002. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 12-month low of $103.55 and a 12-month high of $141.23. The firm's fifty day simple moving average is $131.97 and its 200 day simple moving average is $130.17. The stock has a market cap of $221.03 billion, a P/E ratio of 15.95, a PEG ratio of 2.43 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. During the same period in the previous year, the firm posted $1.14 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of analyst reports. Raymond James Financial decreased their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, July 18th. Mizuho upped their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Barclays boosted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Piper Sandler restated an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. 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. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

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.