Retirement Systems of Alabama decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 375,527 shares of the healthcare product maker's stock after selling 2,853 shares during the period. Retirement Systems of Alabama's holdings in Abbott Laboratories were worth $42,476,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in ABT. Czech National Bank lifted its holdings in Abbott Laboratories by 6.9% during the 3rd quarter. Czech National Bank now owns 354,435 shares of the healthcare product maker's stock valued at $40,409,000 after purchasing an additional 22,932 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in shares of Abbott Laboratories by 8.7% in the third quarter. Miracle Mile Advisors LLC now owns 10,904 shares of the healthcare product maker's stock valued at $1,243,000 after acquiring an additional 872 shares during the last quarter. Atwood & Palmer Inc. grew its position in Abbott Laboratories by 6.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker's stock worth $169,000 after acquiring an additional 90 shares during the last quarter. Bath Savings Trust Co raised its position in Abbott Laboratories by 1.2% in the 3rd quarter. Bath Savings Trust Co now owns 160,251 shares of the healthcare product maker's stock valued at $18,270,000 after purchasing an additional 1,944 shares during the last quarter. Finally, Werlinich Asset Management LLC boosted its stake in Abbott Laboratories by 0.7% in the third quarter. Werlinich Asset Management LLC now owns 13,695 shares of the healthcare product maker's stock worth $1,561,000 after purchasing an additional 100 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories Trading Up 2.3 %
NYSE:ABT traded up $2.97 on Wednesday, reaching $132.07. The company's stock had a trading volume of 8,679,596 shares, compared to its average volume of 7,253,920. The firm has a market cap of $229.06 billion, a PE ratio of 17.26, a PEG ratio of 2.39 and a beta of 0.74. 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 business's 50-day moving average price is $116.80 and its two-hundred day moving average price is $114.71. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $132.50.
Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts' consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.
Abbott Laboratories Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories's previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.85%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an "outperform" rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Raymond James restated a "buy" rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Stifel Nicolaus increased their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, Piper Sandler upped their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.06.
Get Our Latest Report on Abbott Laboratories
Insider Buying and Selling at Abbott Laboratories
In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company's stock.
Abbott Laboratories Company Profile
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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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