ING Groep NV boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 860.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,033 shares of the healthcare product maker’s stock after purchasing an additional 104,853 shares during the period. ING Groep NV’s holdings in Abbott Laboratories were worth $6,679,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors lifted its position in Abbott Laboratories by 45.7% in the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after purchasing an additional 14,918,038 shares during the last quarter. Janus Henderson Group PLC increased its stake in Abbott Laboratories by 3,373.9% during the 2nd quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock valued at $382,779,000 after buying an additional 7,647,798 shares during the period. Vanguard Group Inc. increased its stake in Abbott Laboratories by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after buying an additional 3,241,063 shares during the period. Dimensional Fund Advisors LP increased its stake in Abbott Laboratories by 28.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after buying an additional 2,606,404 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Abbott Laboratories by 76.1% in the 2nd quarter. Principal Financial Group Inc. now owns 4,557,426 shares of the healthcare product maker’s stock worth $221,536,000 after purchasing an additional 1,969,723 shares during the last quarter. Hedge funds and other institutional investors own 72.37% of the company’s stock.
Several brokerages have recently issued reports on ABT. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Argus raised their price target on shares of Abbott Laboratories from $66.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup raised their price target on shares of Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Barclays lifted their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, Guggenheim reissued a “buy” rating and issued a $72.00 price target on shares of Abbott Laboratories in a research report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $65.47.
NYSE:ABT traded down $2.29 during trading hours on Friday, reaching $57.57. 7,447,118 shares of the stock were exchanged, compared to its average volume of 6,079,406. Abbott Laboratories has a twelve month low of $42.31 and a twelve month high of $64.60. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The company has a market cap of $104,535.55, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 1.78 and a beta of 1.50.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 42.3% compared to the same quarter last year. analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is 44.80%.
In other Abbott Laboratories news, insider Brian J. Blaser sold 27,733 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the transaction, the insider now owns 156,587 shares in the company, valued at approximately $9,749,106.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total value of $836,588.92. Following the completion of the transaction, the executive vice president now owns 152,343 shares in the company, valued at approximately $9,573,234.12. The disclosure for this sale can be found here. Insiders have sold a total of 124,261 shares of company stock valued at $7,559,987 in the last ninety days. Insiders own 0.74% of the company’s stock.
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Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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