Nordea Investment Management AB decreased its holdings in shares of Abbott Laboratories (NYSE: ABT – Get Rating) by 3.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 940,873 shares of the healthcare product maker’s stock after selling 38,049 shares during the period. Nordea Investment Management AB’s holdings in Abbott Laboratories were worth $ 112,924,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Camden National Bank boosted its holdings in Abbott Laboratories by 1.5% in the fourth quarter. Camden National Bank now owns 7,707 shares of the healthcare product maker’s stock worth $ 844,000 after purchasing an additional 114 shares during the last quarter. Morgan Stanley boosted its holdings in Abbott Laboratories by 4.5% in the second quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock worth $ 3,311,209,000 after purchasing an additional 1,233,152 shares during the last quarter. Center for Financial Planning Inc. boosted its holdings in Abbott Laboratories by 3.1% in the third quarter. Center for Financial Planning Inc. now owns 15,430 shares of the healthcare product maker’s stock worth $ 1,823,000 after purchasing an additional 471 shares during the last quarter. New World Advisors LLC purchased a new stake in Abbott Laboratories in the third quarter worth approximately $ 477,000. Finally, Dark Forest Capital Management LP purchased a new stake in Abbott Laboratories in the third quarter worth approximately $ 146,000. 73.46% of the stock is owned by institutional investors and hedge funds.
In other news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $ 113.22, for a total value of $ 5,661,000.00. Following the completion of the sale, the director now directly owns 6,973,500 shares in the company, valued at $ 789,539,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Randel William Woodgrift sold 24,000 shares of the stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $ 113.00, for a total transaction of $ 2,712,000.00. Following the completion of the sale, the senior vice president now owns 47,854 shares of the company stock, valued at $ 5,407,502. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company stock.
Several research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of Abbott Laboratories from $ 146.00 to $ 143.00 and set an “outperform” rating on the stock in a research note on Thursday, April 21st. Raymond James dropped their price target on shares of Abbott Laboratories from $ 143.00 to $ 135.00 and set an “outperform” rating on the stock in a research note on Thursday, April 21st. Morgan Stanley dropped their price target on shares of Abbott Laboratories from $ 151.00 to $ 145.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 7th. Bank of America started coverage on shares of Abbott Laboratories in a research note on Tuesday, March 1st. They set a “buy” rating and a $ 140.00 target price on the stock. Finally, StockNews.com started coverage on shares of Abbott Laboratories in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $ 140.25.
ABT stock opened at $ 102.53 on Tuesday. Abbott Laboratories has a 12 month low of $ 101.24 and a 12 month high of $ 142.60. The company has a current ratio of 1.85, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $ 113.50 and a 200 day moving average price of $ 121.88. The stock has a market cap of $ 179.52 billion, a PE ratio of 23.79, a P / E / G ratio of 3.70 and a beta of 0.73.
Abbott Laboratories (NYSE: ABT – Get Rating) last released its quarterly earnings data on Wednesday, April 20th. The healthcare product maker reported $ 1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 1.47 by $ 0.26. Abbott Laboratories had a net margin of 17.35% and a return on equity of 28.72%. The company had revenue of $ 11.90 billion during the quarter, compared to analysts’ expectations of $ 11 billion. During the same period in the previous year, the company earned $ 1.32 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Abbott Laboratories will post 4.84 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be issued a dividend of $ 0.47 per share. This represents a $ 1.88 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, July 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 43.62%.
Abbott Laboratories Profile: (Get Rating)
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 Established Pharmaceutical Products segment 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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