Amundi Pioneer Asset Management Inc. bought a new position in Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,164,354 shares of the healthcare product maker’s stock, valued at approximately $66,450,000. Amundi Pioneer Asset Management Inc. owned approximately 0.07% of Abbott Laboratories at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Capital Research Global Investors boosted its stake in shares of 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 purchasing an additional 14,918,038 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Abbott Laboratories by 3,373.9% during the second quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock valued at $382,779,000 after purchasing an additional 7,647,798 shares during the period. BlackRock Inc. boosted its stake in shares of Abbott Laboratories by 3.3% during the fourth quarter. BlackRock Inc. now owns 110,201,384 shares of the healthcare product maker’s stock valued at $6,289,191,000 after purchasing an additional 3,566,731 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of 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 purchasing an additional 2,606,404 shares during the period. 72.37% of the stock is owned by institutional investors and hedge funds.
In other Abbott Laboratories news, insider Roger Bird sold 8,262 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $62.75, for a total value of $518,440.50. Following the completion of the transaction, the insider now owns 58,574 shares in the company, valued at $3,675,518.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jared Watkin sold 996 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $58.87, for a total value of $58,634.52. Following the completion of the transaction, the senior vice president now owns 69,511 shares of the company’s stock, valued at approximately $4,092,112.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,261 shares of company stock valued at $7,559,987. 0.74% of the stock is owned by corporate insiders.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The firm’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. equities analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.95%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.
A number of research firms have recently weighed in on ABT. Wells Fargo increased their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Leerink Swann reissued a “market perform” rating on shares of Abbott Laboratories in a research note on Friday, January 19th. Royal Bank of Canada reissued a “buy” rating and set a $67.00 price objective on shares of Abbott Laboratories in a research note on Thursday, January 25th. Citigroup increased their price objective on Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Finally, Stifel Nicolaus increased their price objective on Abbott Laboratories from $63.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $65.47.
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About Abbott Laboratories
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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