Candriam Luxembourg S.C.A. lessened its stake in Abbott Laboratories (NYSE:ABT) by 3.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 445,502 shares of the healthcare product maker’s stock after selling 14,816 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Abbott Laboratories were worth $25,427,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Abbott Laboratories by 2.6% during the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after purchasing an additional 3,241,063 shares in the last quarter. Capital Research Global Investors increased its position in Abbott Laboratories by 45.7% during the second 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 acquiring an additional 14,918,038 shares during the last quarter. Northern Trust Corp increased its position in Abbott Laboratories by 3.1% during the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after acquiring an additional 809,732 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Abbott Laboratories by 28.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after acquiring an additional 2,606,404 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Abbott Laboratories by 7.7% during the second quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock valued at $564,222,000 after acquiring an additional 830,610 shares during the last quarter. 72.35% of the stock is currently owned by hedge funds and other institutional investors.
ABT stock opened at $62.65 on Wednesday. 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 $108,726.75, a PE ratio of 240.97, a PEG ratio of 1.85 and a beta of 1.52. Abbott Laboratories has a 1-year low of $42.31 and a 1-year high of $64.60.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The business’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. research analysts predict that Abbott Laboratories will post 2.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s payout ratio is presently 430.79%.
In other Abbott Laboratories news, insider Jared Watkin sold 3,000 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $61.19, for a total transaction of $183,570.00. Following the transaction, the insider now directly owns 68,215 shares in the company, valued at approximately $4,174,075.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Roger Bird sold 8,262 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $62.75, for a total transaction of $518,440.50. Following the transaction, the insider now owns 58,574 shares in the company, valued at $3,675,518.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,261 shares of company stock worth $7,559,987. Company insiders own 0.76% of the company’s stock.
A number of research analysts have weighed in on ABT shares. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 9th. Evercore ISI started coverage on shares of Abbott Laboratories in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 price objective on the stock. ValuEngine upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. Finally, BTIG Research cut shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $65.47.
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Abbott Laboratories Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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