Rockefeller Capital Management L.P. raised its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 27.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,377,659 shares of the healthcare product maker’s stock after acquiring an additional 297,268 shares during the period. Rockefeller Capital Management L.P.’s holdings in Abbott Laboratories were worth $172,607,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in shares of Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after purchasing an additional 4,755 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Abbott Laboratories by 3.5% in the second quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker’s stock worth $648,000 after buying an additional 162 shares during the period. United Bank raised its holdings in Abbott Laboratories by 7.4% during the 2nd quarter. United Bank now owns 29,004 shares of the healthcare product maker’s stock valued at $3,945,000 after buying an additional 2,001 shares during the last quarter. Main Street Financial Solutions LLC boosted its position in Abbott Laboratories by 13.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 11,894 shares of the healthcare product maker’s stock valued at $1,618,000 after buying an additional 1,428 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Abbott Laboratories by 25.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,435,683 shares of the healthcare product maker’s stock worth $195,267,000 after acquiring an additional 292,547 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Stock Up 0.1%
Shares of NYSE ABT opened at $88.48 on Friday. The firm has a fifty day simple moving average of $90.08 and a two-hundred day simple moving average of $106.60. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $139.06. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $154.12 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.52 and a beta of 0.63.
Abbott Laboratories Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.8%. Abbott Laboratories’s dividend payout ratio is 70.59%.
Wall Street Analyst Weigh In
ABT has been the topic of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of Abbott Laboratories from $145.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. Wells Fargo & Company cut their target price on Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Evercore reduced their price target on Abbott Laboratories from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Bank of America lowered their price target on Abbott Laboratories from $120.00 to $102.00 in a research report on Friday, June 12th. Finally, Royal Bank Of Canada dropped their price objective on Abbott Laboratories from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.30.
Get Our Latest Stock Report on Abbott Laboratories
Insider Activity at Abbott Laboratories
In other news, Director Daniel J. Starks bought 10,000 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was purchased at an average price of $92.65 per share, with a total value of $926,500.00. Following the transaction, the director owned 6,751,103 shares of the company’s stock, valued at approximately $625,489,692.95. The trade was a 0.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Philip P. Boudreau bought 2,200 shares of the stock in a transaction dated Thursday, April 23rd. The stock was purchased at an average price of $91.50 per share, with a total value of $201,300.00. Following the purchase, the chief financial officer owned 2,200 shares in the company, valued at $201,300. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.46% of the stock is currently owned by corporate insiders.
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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