Plimoth Trust Co. LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 13.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,197 shares of the healthcare product maker's stock after selling 3,915 shares during the quarter. Plimoth Trust Co. LLC's holdings in Abbott Laboratories were worth $3,475,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. raised its position in shares of Abbott Laboratories by 8.5% during the first quarter. Global X Japan Co. Ltd. now owns 4,843 shares of the healthcare product maker's stock worth $642,000 after acquiring an additional 379 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in Abbott Laboratories by 6.7% during the 1st quarter. Premier Path Wealth Partners LLC now owns 7,684 shares of the healthcare product maker's stock valued at $1,019,000 after purchasing an additional 480 shares during the period. Harrell Investment Partners LLC bought a new position in Abbott Laboratories during the 1st quarter worth approximately $216,000. State of Alaska Department of Revenue lifted its position in shares of Abbott Laboratories by 24.8% in the 1st quarter. State of Alaska Department of Revenue now owns 246,749 shares of the healthcare product maker's stock worth $32,730,000 after purchasing an additional 49,005 shares during the period. Finally, CWA Asset Management Group LLC boosted its stake in shares of Abbott Laboratories by 23.6% in the 1st quarter. CWA Asset Management Group LLC now owns 12,322 shares of the healthcare product maker's stock valued at $1,635,000 after purchasing an additional 2,352 shares during the last quarter. Institutional investors own 75.18% of the company's stock.
Abbott Laboratories Stock Up 0.1%
ABT traded up $0.07 during trading on Thursday, hitting $132.35. 4,950,337 shares of the company's stock were exchanged, compared to its average volume of 6,109,757. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The stock has a market cap of $230.27 billion, a P/E ratio of 17.17, a PEG ratio of 2.51 and a beta of 0.73. The business's 50 day moving average is $131.91 and its two-hundred day moving average is $126.66. 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 (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, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. As a group, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.
Abbott Laboratories Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.78%. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.61%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on ABT shares. Leerink Partners started coverage on shares of Abbott Laboratories in a research note on Monday. They set a "market perform" rating and a $143.00 target price for the company. Citigroup increased their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Piper Sandler reissued an "overweight" rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Royal Bank Of Canada upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Finally, Stifel Nicolaus lifted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $142.61.
Get Our Latest Stock Report on Abbott Laboratories
Insider Activity at Abbott Laboratories
In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director now owns 34,058 shares of the company's stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.
Abbott Laboratories Profile
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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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