Abbott Laboratories (NYSE:ABT) Shares Acquired by Andra AP fonden

Andra AP fonden lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 15.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,508 shares of the healthcare product maker’s stock after purchasing an additional 11,400 shares during the quarter. Andra AP fonden’s holdings in Abbott Laboratories were worth $8,989,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after purchasing an additional 8,834,840 shares during the last quarter. Capital Research Global Investors boosted its holdings in Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after acquiring an additional 7,527,778 shares during the last quarter. Capital International Investors boosted its holdings in Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after acquiring an additional 5,882,780 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Abbott Laboratories by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after acquiring an additional 1,027,390 shares during the last quarter. Finally, Norges Bank acquired a new position in Abbott Laboratories in the fourth quarter valued at $2,115,836,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Citigroup lifted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Evercore ISI cut their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Finally, Barclays raised their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Stock Down 0.5 %

Shares of NYSE ABT opened at $116.55 on Thursday. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm has a market cap of $202.75 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.83 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock’s 50-day simple moving average is $108.70 and its 200-day simple moving average is $108.69.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 earnings per share. As a group, equities analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were paid a $0.55 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, 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 company 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, Ménière'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.