Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Abbott Laboratories (NYSE:ABT – Free Report) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 643,399 shares of the healthcare product maker’s stock after selling 23,400 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Abbott Laboratories were worth $70,819,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $28,000. Cornerstone Planning Group LLC acquired a new stake in Abbott Laboratories during the second quarter worth $28,000. FWL Investment Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth $33,000. True Wealth Design LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth $33,000. Finally, Quarry LP increased its stake in Abbott Laboratories by 132.9% during the second quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock worth $36,000 after acquiring an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Stock Performance
ABT stock traded up $0.31 during trading on Tuesday, hitting $109.20. The company had a trading volume of 7,279,119 shares, compared to its average volume of 5,590,588. The firm has a market cap of $189.48 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The firm has a 50-day moving average price of $114.67 and a 200-day moving average price of $107.51. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35.
Abbott Laboratories Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 67.48%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Barclays raised their target price on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Raymond James raised their price target on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $128.00 target price on shares of Abbott Laboratories in a report on Wednesday, February 14th. Evercore ISI lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.14.
Check Out Our Latest Stock Report on Abbott Laboratories
Insiders Place Their Bets
In other news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,435 shares of company stock worth $6,451,298. Company insiders own 0.47% of the company’s stock.
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 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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