Hermes Investment Management Ltd. increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,334,599 shares of the healthcare product maker’s stock after buying an additional 29,002 shares during the period. Hermes Investment Management Ltd. owned approximately 0.08% of Abbott Laboratories worth $59,270,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of ABT. State Street Corp raised its stake in Abbott Laboratories by 2.4% in the fourth quarter. State Street Corp now owns 67,692,934 shares of the healthcare product maker’s stock worth $2,600,094,000 after buying an additional 1,562,649 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Abbott Laboratories by 11.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 32,791,216 shares of the healthcare product maker’s stock worth $1,386,741,000 after buying an additional 3,272,839 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Abbott Laboratories by 11.5% in the fourth quarter. Macquarie Group Ltd. now owns 19,694,052 shares of the healthcare product maker’s stock worth $756,449,000 after buying an additional 2,025,512 shares during the last quarter. Norges Bank bought a new position in Abbott Laboratories during the fourth quarter worth $598,897,000. Finally, Independent Franchise Partners LLP increased its position in Abbott Laboratories by 1.8% in the third quarter. Independent Franchise Partners LLP now owns 9,127,135 shares of the healthcare product maker’s stock worth $385,986,000 after buying an additional 157,032 shares in the last quarter. Institutional investors own 71.10% of the company’s stock.
Abbott Laboratories (NYSE:ABT) traded up 1.41% during trading on Monday, hitting $48.89. 7,409,522 shares of the stock traded hands. The stock has a market cap of $84.84 billion, a P/E ratio of 50.87 and a beta of 1.08. The stock has a 50 day moving average price of $45.07 and a 200-day moving average price of $42.97. Abbott Laboratories has a 52-week low of $36.76 and a 52-week high of $49.17.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 19th. The healthcare product maker reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Abbott Laboratories had a return on equity of 14.91% and a net margin of 6.74%. Abbott Laboratories’s revenue was up 29.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. On average, analysts anticipate that Abbott Laboratories will post $2.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 110.42%.
A number of research analysts have recently weighed in on the stock. BidaskClub raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Jefferies Group LLC restated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research note on Friday. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Wednesday, June 14th. Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Finally, TheStreet cut shares of Abbott Laboratories from a “b” rating to a “c+” rating in a research report on Thursday, May 18th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $49.50.
In related news, insider Jared Watkin sold 552 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction of $26,479.44. Following the sale, the insider now owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph J. Manning sold 4,200 shares of the stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $43.95, for a total value of $184,590.00. Following the sale, the insider now directly owns 26,224 shares in the company, valued at approximately $1,152,544.80. The disclosure for this sale can be found here. Insiders sold 206,902 shares of company stock worth $9,497,761 in the last three months. 0.76% of the stock is owned by corporate insiders.
About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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