Dupont Capital Management Corp Cuts Holdings in Abbott Laboratories (NYSE:ABT)

Dupont Capital Management Corp lowered its holdings in Abbott Laboratories (NYSE:ABT) by 18.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,853 shares of the healthcare product maker’s stock after selling 19,722 shares during the quarter. Abbott Laboratories accounts for about 1.3% of Dupont Capital Management Corp’s investment portfolio, making the stock its 25th biggest holding. Dupont Capital Management Corp’s holdings in Abbott Laboratories were worth $11,919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $25,000. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $26,000. NewSquare Capital LLC grew its position in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares during the period. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $29,000. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Thursday, April 17th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Raymond James Financial upped their target price on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Finally, Leerink Partners initiated 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 target on the stock. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.61.

Abbott Laboratories Stock Up 0.4%

Shares of ABT stock opened at $132.88 on Friday. The company’s fifty day simple moving average is $132.19 and its two-hundred day simple moving average is $126.88. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The stock has a market cap of $231.20 billion, a P/E ratio of 17.24, a PEG ratio of 2.51 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.78%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.61%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is owned by insiders.

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.