Pitcairn Co. Purchases 2,525 Shares of Abbott Laboratories (ABT)

Pitcairn Co. raised its position in Abbott Laboratories (NYSE:ABT) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,892 shares of the healthcare product maker’s stock after acquiring an additional 2,525 shares during the quarter. Pitcairn Co.’s holdings in Abbott Laboratories were worth $1,021,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ABT. Capital Research Global Investors lifted its stake in Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after acquiring an additional 14,918,038 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Abbott Laboratories by 3,373.9% in the second quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock worth $382,779,000 after acquiring an additional 7,647,798 shares during the last quarter. BlackRock Inc. lifted its stake in Abbott Laboratories by 3.3% in the fourth quarter. BlackRock Inc. now owns 110,201,384 shares of the healthcare product maker’s stock worth $6,289,191,000 after acquiring an additional 3,566,731 shares during the last quarter. Vanguard Group Inc. lifted its stake in Abbott Laboratories by 2.6% in the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after acquiring an additional 3,241,063 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Abbott Laboratories by 28.6% in the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after acquiring an additional 2,606,404 shares during the last quarter. Institutional investors own 72.37% of the company’s stock.

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ABT stock opened at $57.57 on Friday. Abbott Laboratories has a 12 month low of $42.31 and a 12 month high of $64.60. The firm has a market capitalization of $100,536.45, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.50. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. Abbott Laboratories’s revenue for the quarter was up 42.3% on a year-over-year basis. equities research analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.

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 $0.28 dividend. The ex-dividend date is Thursday, April 12th. This represents a $1.12 annualized dividend and a yield of 1.95%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.

A number of brokerages recently issued reports on ABT. Barclays lifted their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Guggenheim restated a “buy” rating and set a $72.00 price objective on shares of Abbott Laboratories in a research report on Thursday, January 25th. Royal Bank of Canada restated a “buy” rating and set a $67.00 price objective on shares of Abbott Laboratories in a research report on Thursday, January 25th. Leerink Swann restated a “market perform” rating and set a $68.00 price objective (up previously from $60.00) on shares of Abbott Laboratories in a research report on Thursday, January 25th. Finally, Citigroup boosted their price objective on shares of Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $65.47.

In related news, EVP Stephen R. Fussell sold 13,313 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total value of $836,588.92. Following the completion of the sale, the executive vice president now owns 152,343 shares in the company, valued at approximately $9,573,234.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jared Watkin sold 996 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $58.87, for a total transaction of $58,634.52. Following the completion of the sale, 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 insiders.

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Abbott Laboratories Company Profile

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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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