Xponance Inc. boosted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 274,289 shares of the healthcare product maker's stock after buying an additional 5,637 shares during the quarter. Xponance Inc.'s holdings in Abbott Laboratories were worth $36,384,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock worth $5,850,000 after buying an additional 4,755 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Proficio Capital Partners LLC raised its stake in Abbott Laboratories by 99.5% in the fourth quarter. Proficio Capital Partners LLC now owns 8,896 shares of the healthcare product maker's stock valued at $1,006,000 after purchasing an additional 4,437 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Abbott Laboratories by 9.8% in the fourth quarter. Farther Finance Advisors LLC now owns 22,740 shares of the healthcare product maker's stock valued at $2,572,000 after purchasing an additional 2,026 shares in the last quarter. Finally, Essential Planning LLC. purchased a new stake in Abbott Laboratories in the fourth quarter valued at approximately $511,000. Institutional investors own 75.18% of the company's stock.
Abbott Laboratories Trading Down 1.2%
NYSE:ABT traded down $1.66 during trading hours on Friday, hitting $131.95. The company had a trading volume of 4,661,224 shares, compared to its average volume of 6,153,605. The company has a market capitalization of $229.56 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 2.54 and a beta of 0.73. The stock has a 50-day moving average price of $133.54 and a 200 day moving average price of $128.86. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. 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 released 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%. On average, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.
Abbott Laboratories Dividend Announcement
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 $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.61%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on ABT shares. Leerink Partners started coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price on the stock. Morgan Stanley raised their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research note on Thursday, April 17th. Barclays lifted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Royal Bank Of Canada lifted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Finally, Raymond James Financial lifted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $143.11.
Read Our Latest Analysis on Abbott Laboratories
Insiders Place Their Bets
In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm'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 transaction, the director owned 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.
Abbott Laboratories Company 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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