Axa decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 51.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 259,426 shares of the healthcare product maker’s stock after selling 274,637 shares during the quarter. Axa’s holdings in Abbott Laboratories were worth $14,806,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new stake in Abbott Laboratories in the third quarter valued at $47,713,000. Moody Lynn & Lieberson LLC lifted its stake in Abbott Laboratories by 17.1% in the third quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock valued at $17,420,000 after acquiring an additional 47,610 shares during the last quarter. Brightworth acquired a new stake in Abbott Laboratories in the third quarter valued at $841,000. RKL Wealth Management LLC acquired a new stake in Abbott Laboratories in the third quarter valued at $227,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in Abbott Laboratories by 1.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 112,689 shares of the healthcare product maker’s stock valued at $6,013,000 after acquiring an additional 2,116 shares during the last quarter. Institutional investors and hedge funds own 72.37% of the company’s stock.
NYSE:ABT opened at $57.57 on Friday. Abbott Laboratories has a 52 week low of $42.31 and a 52 week high of $64.60. The stock has a market cap of $103,837.02, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 1.76 and a beta of 1.50. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.86 and a current ratio of 2.26.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is 44.80%.
In other Abbott Laboratories news, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total value of $836,588.92. Following the transaction, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at approximately $9,573,234.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Roger Bird sold 8,262 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $62.75, for a total transaction of $518,440.50. Following the completion of the transaction, the insider now directly 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 ninety days, insiders have sold 124,261 shares of company stock worth $7,559,987. 0.74% of the stock is owned by insiders.
A number of analysts have commented on ABT shares. Bank of America increased their price target on shares of Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Stifel Nicolaus increased their price objective on shares of Abbott Laboratories from $63.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 9th. Barclays reissued a “buy” rating and issued a $66.00 price objective on shares of Abbott Laboratories in a research report on Monday, January 8th. Finally, Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. 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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