IFM Investors Pty Ltd Purchases 24,049 Shares of Abbott Laboratories (NYSE:ABT)


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IFM Investors Pty Ltd increased its position in Abbott Laboratories (NYSE:ABT) by 16.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 170,996 shares of the healthcare product maker’s stock after acquiring an additional 24,049 shares during the quarter. IFM Investors Pty Ltd’s holdings in Abbott Laboratories were worth $18,722,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABT. United Bank boosted its stake in Abbott Laboratories by 4.6% in the 2nd quarter. United Bank now owns 24,536 shares of the healthcare product maker’s stock worth $2,243,000 after purchasing an additional 1,080 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Abbott Laboratories by 11.2% in the 2nd quarter. Principal Financial Group Inc. now owns 5,503,398 shares of the healthcare product maker’s stock worth $503,176,000 after purchasing an additional 556,192 shares in the last quarter. Asset Dedication LLC boosted its stake in Abbott Laboratories by 5.7% in the 2nd quarter. Asset Dedication LLC now owns 9,880 shares of the healthcare product maker’s stock worth $904,000 after purchasing an additional 534 shares in the last quarter. WFA of San Diego LLC bought a new position in Abbott Laboratories in the 2nd quarter worth about $1,088,000. Finally, Hayek Kallen Investment Management boosted its stake in Abbott Laboratories by 3.9% in the 2nd quarter. Hayek Kallen Investment Management now owns 6,735 shares of the healthcare product maker’s stock worth $616,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

NYSE ABT opened at $112.15 on Thursday. The company has a 50-day moving average price of $108.46 and a 200-day moving average price of $105.10. The firm has a market capitalization of $198.77 billion, a P/E ratio of 59.34, a PEG ratio of 2.07 and a beta of 0.83. Abbott Laboratories has a 52 week low of $61.61 and a 52 week high of $115.14. The company has a quick ratio of 1.19, a current ratio of 1.70 and a debt-to-equity ratio of 0.58.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.53 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. As a group, equities research analysts anticipate that Abbott Laboratories will post 3.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.60%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, January 14th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

In other Abbott Laboratories news, Director Phebe N. Novakovic sold 4,790 shares of the stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $107.28, for a total transaction of $513,871.20. Following the completion of the sale, the director now directly owns 34,446 shares of the company’s stock, valued at approximately $3,695,366.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert E. Funck sold 83,333 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $108.83, for a total transaction of $9,069,130.39. Following the sale, the chief financial officer now directly owns 265,550 shares of the company’s stock, valued at $28,899,806.50. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Several research firms have issued reports on ABT. Credit Suisse Group lowered their target price on shares of Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $113.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. SVB Leerink upped their target price on shares of Abbott Laboratories from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, October 22nd. Morgan Stanley upped their target price on shares of Abbott Laboratories from $121.00 to $126.00 and gave the company an “overweight” rating in a research note on Tuesday, December 15th. Finally, Raymond James upped their target price on shares of Abbott Laboratories from $102.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $115.82.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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