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Abbott Laboratories (NYSE:ABT) Shares Sold by Vestcor Inc

Abbott Laboratories logo with Medical background

Vestcor Inc cut its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 16.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,806 shares of the healthcare product maker's stock after selling 11,397 shares during the quarter. Vestcor Inc's holdings in Abbott Laboratories were worth $7,801,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its stake in Abbott Laboratories by 383.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock worth $945,453,000 after purchasing an additional 6,628,310 shares during the period. GAMMA Investing LLC boosted its stake in Abbott Laboratories by 15,420.4% in the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock worth $676,866,000 after purchasing an additional 5,069,771 shares during the period. Capital International Investors boosted its stake 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 worth $7,688,160,000 after purchasing an additional 2,229,026 shares during the period. Northern Trust Corp boosted its stake in Abbott Laboratories by 10.3% in the 4th quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock worth $2,494,851,000 after purchasing an additional 2,060,650 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Abbott Laboratories by 27.6% during the 4th quarter. Invesco Ltd. now owns 9,018,429 shares of the healthcare product maker's stock worth $1,020,074,000 after acquiring an additional 1,948,329 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ABT shares. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Morgan Stanley upped their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Royal Bank Of Canada upped their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Mizuho upped their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and upped their price objective for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Four investment 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $144.47.

Read Our Latest Research Report on Abbott Laboratories

Abbott Laboratories Trading Up 0.9%

ABT stock traded up $1.13 during midday trading on Friday, reaching $127.32. The company's stock had a trading volume of 5,452,654 shares, compared to its average volume of 6,948,416. The firm has a market capitalization of $221.52 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.44 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a 1 year low of $107.11 and a 1 year high of $141.23. The stock has a fifty day simple moving average of $131.86 and a two-hundred day simple moving average of $130.26.

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

Abbott Laboratories Announces Dividend

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 paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Abbott Laboratories Profile

(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.

Further Reading

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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