Capital Investment Advisors LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT – Get Rating) by 1.0% in the 1st quarter, Holdings Channel reports. The fund owned 13,196 shares of the healthcare product maker’s stock after selling 139 shares during the quarter. Capital Investment Advisors LLC’s holdings in Abbott Laboratories were worth $1,562,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Abbott Laboratories by 2.1% in the 4th quarter. BlackRock Inc. Now owns 137,155,602 shares of the healthcare product maker’s stock worth $19,303,283,000 after purchasing an additional 2,836,966 shares during the period. State Street Corp boosted its stake in Abbott Laboratories by 2.6% in the 4th quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock worth $10,460,085,000 after purchasing an additional 1,896,462 shares during the period. Geode Capital Management LLC boosted its stake in Abbott Laboratories by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 27,906,282 shares of the healthcare product maker’s stock worth $3,915,982,000 after purchasing an additional 776,993 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Abbott Laboratories by 0.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 26,698,119 shares of the healthcare product maker’s stock worth $3,757,493,000 after purchasing an additional 82,926 shares during the period. Finally, Norges Bank bought a new position in Abbott Laboratories in the 4th quarter worth about $2,290,723,000. Institutional investors own 73.46% of the company’s stock.
Shares of NYSE ABT opened at $109.45 on Friday. The stock has a market cap of $191.64 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 3.84 and a beta of 0.73. The company has a current ratio of 1.85, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48. Abbott Laboratories has a 1-year low of $101.24 and a 1-year high of $142.60. The stock’s 50-day moving average is $112.55 and its 200 day moving average is $121.30.
Abbott Laboratories (NYSE:ABT – Get Rating) last announced its quarterly earnings data on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.26. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The company had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11 billion. During the same period last year, the firm posted $1.32 EPS. Abbott Laboratories’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, analysts forecast that Abbott Laboratories will post 4.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $1.88 annualized dividend and a yield of 1.72%. Abbott Laboratories’s payout ratio is 43.62%.
In related news, SVP Randel William Woodgrift sold 24,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $113.00, for a total transaction of $2,712,000.00. Following the transaction, the senior vice president now directly owns 47,854 shares in the company, valued at approximately $5,407,502. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $113.22, for a total value of $5,661,000.00. Following the transaction, the director now owns 6,973,500 shares in the company, valued at $789,539,670. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
Several research analysts have commented on the company. Citigroup cut their target price on Abbott Laboratories from $154.00 to $125.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. BTIG Research lowered their price target on Abbott Laboratories from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company lowered their price target on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, April 8th. StockNews.com started coverage on Abbott Laboratories in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Finally, Raymond James lowered their price target on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, April 21st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.64.
Abbott Laboratories Profile (Get Rating)
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s pain, vertigo and vestiib Fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate the physiological rhythm of the colon.
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