Ritholtz Wealth Management boosted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,332 shares of the healthcare product maker's stock after acquiring an additional 3,905 shares during the period. Ritholtz Wealth Management's holdings in Abbott Laboratories were worth $6,411,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Abbott Laboratories by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock valued at $19,075,481,000 after purchasing an additional 739,260 shares in the last quarter. Capital International Investors boosted 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 in the last quarter. Capital Research Global Investors boosted its holdings in Abbott Laboratories by 1.5% in the 4th 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Abbott Laboratories by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock valued at $4,023,027,000 after purchasing an additional 765,636 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Abbott Laboratories by 2.3% in the 4th 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 purchasing an additional 581,325 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Wells Fargo & Company boosted their price target on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Bank of America boosted their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Finally, Barclays boosted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $142.59.
Get Our Latest Stock Report on Abbott Laboratories
Abbott Laboratories Trading Down 0.8%
ABT traded down $1.04 during trading on Friday, hitting $135.41. The company's stock had a trading volume of 3,927,244 shares, compared to its average volume of 6,107,754. The firm's 50 day moving average price is $131.50 and its 200-day moving average price is $126.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market cap of $235.59 billion, a PE ratio of 17.70, a PEG ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.
Abbott Laboratories (NYSE:ABT - Get Free Report) last issued 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 company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. On average, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.
Abbott Laboratories Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.74%. Abbott Laboratories's payout ratio is 30.61%.
Insider Transactions at Abbott Laboratories
In other news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.46% of the company's stock.
About Abbott Laboratories
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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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