Bank of New York Mellon Corp decreased its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 3.7% in the first quarter, HoldingsChannel reports. The fund owned 12,442,717 shares of the healthcare product maker’s stock after selling 483,453 shares during the quarter. Bank of New York Mellon Corp’s holdings in Abbott Laboratories were worth $1,277,494,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in Abbott Laboratories during the 4th quarter worth $25,000. Cornerstone Financial Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter valued at about $25,000. Purpose Unlimited Inc. acquired a new stake in Abbott Laboratories in the fourth quarter worth about $25,000. Portfolio Resources Advisor Group Inc. acquired a new stake in Abbott Laboratories in the fourth quarter worth about $26,000. Finally, Abound Financial LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $26,000. 75.18% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Abbott Laboratories
In related news, CFO Philip P. Boudreau purchased 2,200 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average cost of $91.50 per share, for a total transaction of $201,300.00. Following the completion of the transaction, the chief financial officer owned 2,200 shares in the company, valued at $201,300. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel J. Starks purchased 10,000 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was bought at an average cost of $92.65 per share, with a total value of $926,500.00. Following the completion of the acquisition, the director directly owned 6,751,103 shares of the company’s stock, valued at $625,489,692.95. This trade represents a 0.15% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.46% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Research Report on Abbott Laboratories
Abbott Laboratories Price Performance
Shares of NYSE:ABT opened at $89.27 on Thursday. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. 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 company has a market cap of $155.49 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.53 and a beta of 0.61. The company’s 50 day moving average is $89.33 and its 200 day moving average is $102.36.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. The firm had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.99 billion. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. On average, sell-side analysts forecast that Abbott Laboratories will post 5.48 EPS for the current year.
Abbott Laboratories Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be paid 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 (DPR) is presently 70.59%.
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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