IFM Investors Pty Ltd boosted its stake in shares of Abbott Laboratories (NYSE:ABT – Get Rating) by 21.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 279,811 shares of the healthcare product maker’s stock after buying an additional 48,604 shares during the quarter. IFM Investors Pty Ltd’s holdings in Abbott Laboratories were worth $33,118,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Norges Bank bought a new position in shares of Abbott Laboratories in the 4th quarter worth about $2,290,723,000. BlackRock Inc. raised its position in shares of Abbott Laboratories by 2.1% in the 4th quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock worth $19,303,283,000 after acquiring an additional 2,836,966 shares in the last quarter. State Street Corp raised its position in shares of Abbott Laboratories by 2.6% in the 4th quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock worth $10,460,085,000 after acquiring an additional 1,896,462 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Abbott Laboratories by 16.3% in the 4th quarter. Nuveen Asset Management LLC now owns 11,469,313 shares of the healthcare product maker’s stock worth $1,614,192,000 after acquiring an additional 1,609,489 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Abbott Laboratories by 4,654.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,621,497 shares of the healthcare product maker’s stock worth $228,209,000 after acquiring an additional 1,587,394 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on ABT. Wolfe Research started coverage on Abbott Laboratories in a research report on Tuesday, July 5th. They issued an “underperform” rating for the company. Raymond James decreased their target price on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Wells Fargo & Company decreased their target price on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. UBS Group decreased their target price on Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Finally, StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $132.46.
Insider Activity at Abbott Laboratories
Abbott Laboratories Price Performance
Shares of NYSE ABT opened at $108.84 on Monday. Abbott Laboratories has a twelve month low of $101.24 and a twelve month high of $142.60. The stock’s 50 day moving average price is $109.88 and its 200-day moving average price is $116.22. The company has a market capitalization of $190.57 billion, a PE ratio of 22.72, a PEG ratio of 4.04 and a beta of 0.75. The company has a quick ratio of 1.40, a current ratio of 1.85 and a debt-to-equity ratio of 0.48.
Abbott Laboratories (NYSE:ABT – Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 EPS for the quarter, beating the consensus estimate of $1.09 by $0.34. Abbott Laboratories had a return on equity of 29.64% and a net margin of 18.78%. The business had revenue of $11.26 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. Abbott Laboratories’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts anticipate that Abbott Laboratories will post 5 EPS for the current year.
Abbott Laboratories Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $1.88 annualized dividend and a yield of 1.73%. Abbott Laboratories’s payout ratio is 39.25%.
About Abbott Laboratories
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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