SVB Wealth LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 272,413 shares of the healthcare product maker's stock, valued at approximately $30,813,000. Abbott Laboratories makes up approximately 0.6% of SVB Wealth LLC's holdings, making the stock its 22nd largest position.
A number of other large investors have also recently bought and sold shares of ABT. State Street Corp lifted its holdings in shares of Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker's stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker's stock worth $3,963,974,000 after acquiring an additional 488,764 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 1.1% in the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker's stock worth $2,942,709,000 after acquiring an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker's stock worth $1,518,539,000 after acquiring an additional 2,711,586 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Abbott Laboratories by 5.6% in the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker's stock worth $1,265,762,000 after acquiring an additional 585,915 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Abbott Laboratories
In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction on 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 owns 125,697 shares of the company's stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.
Abbott Laboratories Trading Up 1.5 %
Abbott Laboratories stock traded up $2.12 during mid-day trading on Monday, hitting $140.13. 7,585,597 shares of the stock were exchanged, compared to its average volume of 5,447,046. The stock has a market capitalization of $243.03 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 2.52 and a beta of 0.75. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $140.87. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm's fifty day simple moving average is $123.59 and its two-hundred day simple moving average is $118.10.
Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 EPS. Analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.
Abbott Laboratories Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio (DPR) is 30.85%.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Evercore ISI raised their price objective on shares of Abbott Laboratories to $136.00 and gave the company a "buy" rating in a report on Thursday, January 2nd. Barclays reiterated an "overweight" rating and issued a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Finally, UBS Group raised their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average price target of $133.06.
Get Our Latest Stock Analysis on Abbott Laboratories
About Abbott Laboratories
(
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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