Eagle Asset Management Inc. grew its position in shares of Abbott Laboratories (NYSE:ABT) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 401,355 shares of the healthcare product maker’s stock after purchasing an additional 18,252 shares during the period. Eagle Asset Management Inc.’s holdings in Abbott Laboratories were worth $29,030,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Oregon Public Employees Retirement Fund grew its position in Abbott Laboratories by 7,559.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,095,862 shares of the healthcare product maker’s stock worth $416,000 after acquiring an additional 29,702,943 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Abbott Laboratories by 102,159.4% in the third quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock worth $1,997,943,000 after purchasing an additional 27,208,125 shares during the last quarter. Capital International Investors lifted its stake in Abbott Laboratories by 257.0% in the third quarter. Capital International Investors now owns 19,869,687 shares of the healthcare product maker’s stock worth $1,457,640,000 after purchasing an additional 14,303,610 shares during the last quarter. Matthew Goff Investment Advisor LLC lifted its stake in Abbott Laboratories by 5,999.0% in the third quarter. Matthew Goff Investment Advisor LLC now owns 6,418,950 shares of the healthcare product maker’s stock worth $105,246,000 after purchasing an additional 6,313,704 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Abbott Laboratories by 3.3% in the fourth quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock worth $8,755,228,000 after purchasing an additional 3,842,101 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.
ABT has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 2nd. Citigroup downgraded shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $72.00 to $68.00 in a research note on Wednesday, January 2nd. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Monday, January 28th. Bank of America reissued a “buy” rating and issued a $81.00 price objective (up previously from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. Finally, Argus raised their price objective on shares of Abbott Laboratories to $90.00 and gave the stock an “in-line” rating in a research note on Friday, January 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $80.48.
Shares of Abbott Laboratories stock traded up $1.04 on Friday, hitting $73.92. 9,712,196 shares of the company traded hands, compared to its average volume of 5,503,201. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.20 and a current ratio of 1.62. Abbott Laboratories has a 52 week low of $56.81 and a 52 week high of $80.74. The company has a market capitalization of $129.84 billion, a PE ratio of 25.67, a P/E/G ratio of 1.96 and a beta of 1.13.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.91%. The firm had revenue of $7.54 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. On average, analysts forecast that Abbott Laboratories will post 3.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
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Abbott Laboratories Company 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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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