Kintegral Advisory LLC Reduces Stock Holdings in Abbott Laboratories (NYSE:ABT)

Kintegral Advisory LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 32.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,081 shares of the healthcare product maker’s stock after selling 4,944 shares during the period. Kintegral Advisory LLC’s holdings in Abbott Laboratories were worth $1,337,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ABT. Norges Bank purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $2,373,461,000. T. Rowe Price Investment Management Inc. boosted its holdings in Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock worth $945,453,000 after buying an additional 6,628,310 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Abbott Laboratories by 15,420.4% during the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock worth $676,866,000 after buying an additional 5,069,771 shares in the last quarter. Capital International Investors boosted its holdings in Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after buying an additional 2,229,026 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Abbott Laboratories by 10.3% during the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker’s stock worth $2,494,851,000 after buying an additional 2,060,650 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $133.70 on Friday. The firm has a 50-day simple moving average of $133.29 and a 200-day simple moving average of $128.30. The stock has a market capitalization of $232.61 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.55 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. On average, equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.61%.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director owned 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABT. Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Morgan Stanley increased their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Piper Sandler reissued an “overweight” rating and set a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Finally, Leerink Partners started coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective for the company. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.61.

About Abbott Laboratories

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 company 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 disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.