United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Has $75.33 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Key Points

• United Super Pty Ltd reduced its holdings in Abbott Laboratories (ABT) by 10.2% during the first quarter, now owning 567,918 shares worth approximately $75.33 million.
• Abbott Laboratories reported earnings of $1.26 per share for the last quarter, matching analysts' expectations and showing a 7.4% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.59 per share, reflecting an annual yield of 1.9% and a dividend payout ratio of 29.57%.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lowered its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 10.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 567,918 shares of the healthcare product maker's stock after selling 64,512 shares during the period. Abbott Laboratories comprises about 3.1% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's investment portfolio, making the stock its 10th biggest holding. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in Abbott Laboratories were worth $75,334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ABT. Cim LLC increased its holdings in Abbott Laboratories by 0.4% in the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after buying an additional 73 shares during the last quarter. Capital Square LLC grew its stake in shares of Abbott Laboratories by 2.7% during the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after purchasing an additional 77 shares during the last quarter. Consilium Wealth Advisory LLC boosted its stake in Abbott Laboratories by 2.1% in the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after acquiring an additional 78 shares during the last quarter. Mayflower Financial Advisors LLC raised its holdings in shares of Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock worth $2,298,000 after acquiring an additional 78 shares during the period. Finally, Opes Wealth Management LLC grew its position in shares of Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock valued at $379,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Leerink Partners assumed coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective for the company. Raymond James Financial decreased their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, July 18th. Finally, Mizuho lifted their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Four 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Stock Up 0.2%

NYSE ABT traded up $0.32 during trading hours on Wednesday, hitting $131.01. 5,169,520 shares of the company traded hands, compared to its average volume of 6,906,156. Abbott Laboratories has a twelve month low of $107.11 and a twelve month high of $141.23. The business's 50-day moving average is $131.72 and its 200-day moving average is $130.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock has a market capitalization of $228.02 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 2.46 and a beta of 0.70.

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 firm had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared 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 1.8%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's payout ratio is 29.57%.

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.