Victory Capital Management Inc. Has $73.24 Million Holdings in Abbott Laboratories (NYSE:ABT)

Victory Capital Management Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 665,391 shares of the healthcare product maker’s stock after buying an additional 40,702 shares during the quarter. Victory Capital Management Inc.’s holdings in Abbott Laboratories were worth $73,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Zevenbergen Capital Investments LLC grew its position in shares of Abbott Laboratories by 0.6% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock worth $2,074,000 after buying an additional 130 shares during the period. Perigon Wealth Management LLC grew its holdings in Abbott Laboratories by 5.2% during the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock valued at $5,182,000 after purchasing an additional 2,317 shares during the period. Rockland Trust Co. raised its holdings in Abbott Laboratories by 1.5% in the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock worth $8,897,000 after purchasing an additional 1,343 shares during the period. VisionPoint Advisory Group LLC boosted its position in shares of Abbott Laboratories by 7.4% during the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after purchasing an additional 215 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Abbott Laboratories by 634.6% in the 3rd quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock valued at $2,882,000 after buying an additional 25,707 shares during the period. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

NYSE ABT opened at $105.88 on Friday. The firm’s 50 day moving average is $112.79 and its 200-day moving average is $108.41. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $183.72 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 2.56 and a beta of 0.76. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same period in the previous year, the business earned $1.03 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insiders Place Their Bets

In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock valued at $1,670,048 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

ABT has been the topic of several research analyst reports. Raymond James reaffirmed a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Evercore ISI boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada dropped their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Citigroup upped their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Barclays dropped their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Abbott Laboratories Company Profile

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.