Nykredit A S bought a new stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 589,236 shares of the healthcare product maker’s stock, valued at approximately $53,467,000.
Several other institutional investors and hedge funds have also modified their holdings of ABT. Freemont Management S.A. raised its stake in shares of Abbott Laboratories by 197.2% in the fourth quarter. Freemont Management S.A. now owns 10,700 shares of the healthcare product maker’s stock worth $1,341,000 after buying an additional 7,100 shares during the period. Thrivent Financial for Lutherans increased its holdings in Abbott Laboratories by 24.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 246,586 shares of the healthcare product maker’s stock worth $30,931,000 after acquiring an additional 48,286 shares in the last quarter. Aureus Asset Management LLC raised its stake in Abbott Laboratories by 25.0% during the 1st quarter. Aureus Asset Management LLC now owns 331,920 shares of the healthcare product maker’s stock worth $34,078,000 after acquiring an additional 66,422 shares during the period. North Dakota State Investment Board purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $7,439,000. Finally, Thompson Investment Management Inc. boosted its position in shares of Abbott Laboratories by 786.0% in the second quarter. Thompson Investment Management Inc. now owns 14,061 shares of the healthcare product maker’s stock worth $1,276,000 after purchasing an additional 12,474 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Stock Down 0.5%
Shares of ABT opened at $108.29 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The stock has a market capitalization of $187.38 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.01 and a beta of 0.59. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $137.49. The business’s 50 day simple moving average is $104.43 and its 200-day simple moving average is $100.12.
Abbott Laboratories Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 81.55%.
Analyst Ratings Changes
ABT has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Abbott Laboratories from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Bank of America cut their price target on Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of Abbott Laboratories in a research report on Friday, July 17th. Citigroup increased their target price on Abbott Laboratories from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Finally, Wells Fargo & Company boosted their price target on Abbott Laboratories from $109.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $119.50.
Read Our Latest Stock Analysis on ABT
About Abbott Laboratories
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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