Cambridge Investment Research Advisors Inc. lifted its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 13.6% during the 4th quarter, HoldingsChannel reports. The fund owned 331,204 shares of the healthcare product maker’s stock after buying an additional 39,573 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Abbott Laboratories were worth $41,497,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Abbott Laboratories by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 175,556,716 shares of the healthcare product maker’s stock worth $21,995,501,000 after acquiring an additional 2,402,408 shares during the last quarter. Capital International Investors grew its stake in shares of Abbott Laboratories by 2.5% in the third quarter. Capital International Investors now owns 61,614,739 shares of the healthcare product maker’s stock worth $8,251,974,000 after acquiring an additional 1,478,076 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Abbott Laboratories by 5.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 15,096,907 shares of the healthcare product maker’s stock worth $2,022,080,000 after acquiring an additional 821,325 shares during the last quarter. Invesco Ltd. grew its stake in shares of Abbott Laboratories by 51.0% in the third quarter. Invesco Ltd. now owns 13,951,907 shares of the healthcare product maker’s stock worth $1,868,718,000 after acquiring an additional 4,713,135 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Abbott Laboratories by 3.8% in the third quarter. Ameriprise Financial Inc. now owns 13,500,829 shares of the healthcare product maker’s stock worth $1,804,050,000 after acquiring an additional 499,351 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.
Abbott Laboratories Stock Up 0.0%
ABT opened at $84.49 on Monday. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $139.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01. The firm’s fifty day moving average price is $99.02 and its two-hundred day moving average price is $113.25. The company has a market capitalization of $147.16 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.41 and a beta of 0.65.
Abbott Laboratories Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 70.59%.
Insider Activity at Abbott Laboratories
In other Abbott Laboratories news, EVP Mary K. Moreland sold 613 shares of Abbott Laboratories stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $115.58, for a total transaction of $70,850.54. Following the completion of the transaction, the executive vice president directly owned 104,291 shares of the company’s stock, valued at approximately $12,053,953.78. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Gesua Sive Salvadori sold 885 shares of Abbott Laboratories stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $115.58, for a total value of $102,288.30. Following the transaction, the executive vice president directly owned 146,377 shares of the company’s stock, valued at approximately $16,918,253.66. The trade was a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,055 shares of company stock valued at $353,097. Insiders own 0.46% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Abbott Laboratories from $158.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Stifel Nicolaus decreased their price target on shares of Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. Bank of America decreased their price target on shares of Abbott Laboratories from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. Piper Sandler decreased their price target on shares of Abbott Laboratories from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Finally, Mizuho decreased their price target on shares of Abbott Laboratories from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.43.
View Our Latest Stock Report on Abbott Laboratories
Abbott Laboratories Profile
Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.
In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.
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