Amundi Pioneer Asset Management Inc. raised its position in Abbott Laboratories (NYSE:ABT) by 29.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,785,410 shares of the healthcare product maker’s stock after buying an additional 855,370 shares during the quarter. Amundi Pioneer Asset Management Inc. owned about 0.21% of Abbott Laboratories worth $414,463,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlas Private Wealth Advisors raised its stake in shares of Abbott Laboratories by 107.3% in the fourth quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock valued at $25,000 after buying an additional 118 shares during the period. Inspire Advisors LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $29,000. Black Swift Group LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $35,000. Krane Funds Advisors LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $39,000. Finally, PrairieView Partners LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.
Shares of ABT opened at $120.11 on Thursday. The business’s fifty day simple moving average is $119.99 and its two-hundred day simple moving average is $113.19. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Abbott Laboratories has a 12 month low of $81.05 and a 12 month high of $128.54. The company has a market cap of $212.78 billion, a price-to-earnings ratio of 63.55, a P/E/G ratio of 2.06 and a beta of 0.83.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Thursday, April 15th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, April 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.50%. Abbott Laboratories’s payout ratio is 55.56%.
Several equities analysts recently commented on ABT shares. Morgan Stanley boosted their target price on Abbott Laboratories from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Raymond James boosted their target price on Abbott Laboratories from $126.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 17th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Tuesday, February 2nd. Wells Fargo & Company upped their price objective on Abbott Laboratories from $128.00 to $137.00 in a report on Thursday, January 28th. Finally, SVB Leerink upped their price objective on Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a report on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have assigned a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and a consensus price target of $122.47.
In related news, EVP Mary K. Moreland sold 400 shares of the firm’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $121.84, for a total value of $48,736.00. Following the transaction, the executive vice president now directly owns 76,886 shares of the company’s stock, valued at approximately $9,367,790.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 6,200 shares of the firm’s stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $121.79, for a total value of $755,098.00. Following the completion of the transaction, the executive vice president now directly owns 51,550 shares in the company, valued at $6,278,274.50. The disclosure for this sale can be found here. Insiders have sold a total of 27,476 shares of company stock worth $3,366,543 over the last three months. Insiders own 1.70% of the company’s stock.
Abbott Laboratories Profile
Abbott Laboratories 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 Established Pharmaceutical Products segment 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, MÃ©niÃ¨re'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.
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