OMERS ADMINISTRATION Corp increased its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 26.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,968 shares of the healthcare product maker’s stock after purchasing an additional 19,094 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Abbott Laboratories were worth $9,237,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Nia Impact Advisors LLC increased its position in shares of Abbott Laboratories by 2.2% during the second quarter. Nia Impact Advisors LLC now owns 3,706 shares of the healthcare product maker’s stock worth $504,000 after acquiring an additional 79 shares in the last quarter. Clayton Financial Group LLC lifted its position in Abbott Laboratories by 1.4% in the 4th quarter. Clayton Financial Group LLC now owns 6,217 shares of the healthcare product maker’s stock valued at $779,000 after acquiring an additional 84 shares in the last quarter. Jamison Private Wealth Management Inc. lifted its position in Abbott Laboratories by 0.5% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 15,854 shares of the healthcare product maker’s stock valued at $1,986,000 after acquiring an additional 85 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in Abbott Laboratories by 3.9% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,287 shares of the healthcare product maker’s stock worth $287,000 after purchasing an additional 85 shares during the period. Finally, Riggs Asset Managment Co. Inc. increased its holdings in Abbott Laboratories by 9.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,031 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Price Performance
NYSE:ABT opened at $103.13 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39. The stock’s 50-day simple moving average is $91.61 and its 200 day simple moving average is $101.16. The company has a market cap of $179.63 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.00 and a beta of 0.61. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $137.49.
Abbott Laboratories Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 81.55%.
Analyst Ratings Changes
A number of analysts have recently commented on ABT shares. The Goldman Sachs Group cut their price target on Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Wells Fargo & Company increased their price objective on Abbott Laboratories from $109.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Piper Sandler reissued an “overweight” rating and issued a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. TD Cowen reaffirmed a “buy” rating and set a $115.00 price target on shares of Abbott Laboratories in a research report on Friday, July 17th. Finally, Oppenheimer decreased their price target on shares of Abbott Laboratories from $132.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.61.
Read Our Latest Research Report on ABT
Abbott Laboratories Company 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.
Featured Articles
- Five stocks we like better than Abbott Laboratories
- RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade?
- These 4 Earnings Reports Expose the Market’s Growing Economic Divide
- Broadcom May Be the Biggest Winner From Alphabet’s Earnings
- Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.
