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Abbott Laboratories (NYSE:ABT) Shares Acquired by Franklin Resources Inc.

Abbott Laboratories logo with Medical background

Franklin Resources Inc. boosted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,764,061 shares of the healthcare product maker's stock after purchasing an additional 1,180,040 shares during the period. Franklin Resources Inc. owned approximately 0.56% of Abbott Laboratories worth $1,144,818,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ABT. Insight Folios Inc lifted its holdings in Abbott Laboratories by 3.3% in the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker's stock valued at $307,000 after acquiring an additional 87 shares during the period. Sfmg LLC boosted its holdings in shares of Abbott Laboratories by 1.9% in the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker's stock worth $527,000 after buying an additional 88 shares during the last quarter. Boltwood Capital Management grew its position in Abbott Laboratories by 0.4% during the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker's stock valued at $2,488,000 after buying an additional 89 shares during the period. Wedge Capital Management L L P NC increased its holdings in Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker's stock valued at $359,000 after buying an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners raised its position in Abbott Laboratories by 8.7% in the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker's stock worth $126,000 after acquiring an additional 89 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 0.4 %

ABT traded down $0.48 during trading on Friday, hitting $113.38. 4,502,172 shares of the stock were exchanged, compared to its average volume of 5,618,730. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a 50 day simple moving average of $116.25 and a 200 day simple moving average of $111.06. The firm has a market cap of $196.65 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion for the quarter, compared to analysts' expectations of $10.55 billion. During the same period last year, the business earned $1.14 EPS. The company's revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from Abbott Laboratories's previous quarterly dividend of $0.55. Abbott Laboratories's dividend payout ratio (DPR) is currently 66.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ABT shares. Piper Sandler raised their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Royal Bank of Canada upped their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an "outperform" rating and a $130.00 target price for the company. Piper Sandler Companies initiated coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an "overweight" rating and a $131.00 price target for the company. Finally, Sanford C. Bernstein increased their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $130.07.

Get Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Company Profile

(Free Report)

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.

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

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