Buckingham Strategic Wealth LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,247 shares of the healthcare product maker’s stock after acquiring an additional 707 shares during the quarter. Buckingham Strategic Wealth LLC’s holdings in Abbott Laboratories were worth $8,298,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Abbott Laboratories by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 147,844,584 shares of the healthcare product maker’s stock valued at $17,139,623,000 after buying an additional 1,276,670 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Abbott Laboratories by 1.6% during the 3rd quarter. BlackRock Inc. now owns 134,318,636 shares of the healthcare product maker’s stock worth $15,867,060,000 after buying an additional 2,127,862 shares during the last quarter. State Street Corp increased its holdings in Abbott Laboratories by 1.7% in the 2nd quarter. State Street Corp now owns 71,745,046 shares of the healthcare product maker’s stock valued at $8,317,403,000 after purchasing an additional 1,222,298 shares during the last quarter. Capital International Investors increased its holdings in Abbott Laboratories by 2.6% in the 2nd quarter. Capital International Investors now owns 55,968,342 shares of the healthcare product maker’s stock valued at $6,488,764,000 after purchasing an additional 1,408,600 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Abbott Laboratories by 4.5% in the 2nd quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock valued at $3,311,209,000 after purchasing an additional 1,233,152 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on ABT shares. SVB Leerink restated a “market perform” rating and issued a $140.00 price target (up previously from $128.00) on shares of Abbott Laboratories in a research note on Thursday, October 21st. Citigroup boosted their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, October 1st. Royal Bank of Canada started coverage on shares of Abbott Laboratories in a research report on Thursday, December 9th. They set an “outperform” rating and a $146.00 price objective for the company. Atlantic Securities raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $144.00 price objective for the company in a research report on Wednesday, October 27th. Finally, Redburn Partners started coverage on shares of Abbott Laboratories in a research report on Thursday, October 14th. They set a “neutral” rating and a $132.28 price objective for the company. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $137.23.
Shares of Abbott Laboratories stock traded down $2.22 on Friday, reaching $127.43. 206,834 shares of the stock were exchanged, compared to its average volume of 5,507,423. Abbott Laboratories has a 1-year low of $105.36 and a 1-year high of $142.60. The company has a current ratio of 1.83, a quick ratio of 1.42 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average price of $132.37 and a two-hundred day moving average price of $125.89. The firm has a market capitalization of $225.33 billion, a PE ratio of 32.17, a PEG ratio of 2.37 and a beta of 0.72.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Tuesday, October 19th. The healthcare product maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.46. Abbott Laboratories had a net margin of 17.12% and a return on equity of 28.39%. The company had revenue of $10.93 billion for the quarter, compared to analyst estimates of $9.56 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. Research analysts expect that Abbott Laboratories will post 5.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 15th. Investors of record on Friday, January 14th will be paid a dividend of $0.47 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.48%. Abbott Laboratories’s dividend payout ratio is presently 44.67%.
Abbott Laboratories announced that its Board of Directors has authorized a stock buyback plan on Friday, December 10th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the healthcare product maker to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Abbott Laboratories Company Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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