TD Asset Management Inc Has $231.66 Million Position in Abbott Laboratories (NYSE:ABT)

Key Points

• TD Asset Management Inc increased its stake in Abbott Laboratories by 43.6%, now holding 1,746,373 shares valued at approximately $231.7 million.
• Abbott Laboratories has received favorable ratings from analysts, including a buy rating from Stifel Nicolaus and upgraded price targets, indicating positive expected growth.
• The company announced a quarterly dividend of $0.59 per share, contributing to an annualized yield of 1.87% for investors.

TD Asset Management Inc boosted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 43.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,746,373 shares of the healthcare product maker's stock after acquiring an additional 530,146 shares during the period. TD Asset Management Inc owned 0.10% of Abbott Laboratories worth $231,656,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ABT. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $28,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth approximately $28,000. Finally, Wormser Freres Gestion acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $32,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of ABT stock traded up $0.66 during trading hours on Wednesday, reaching $128.67. 1,851,845 shares of the company were exchanged, compared to its average volume of 6,935,061. Abbott Laboratories has a fifty-two week low of $103.55 and a fifty-two week high of $141.23. The stock's fifty day moving average is $132.06 and its two-hundred day moving average is $130.18. The company has a market cap of $223.86 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.40 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. Abbott Laboratories's revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 earnings per share. Sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.83%. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ABT shares. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Barclays lifted their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Leerink Partners began coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective on the stock. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, Evercore ISI lifted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

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.