Hemenway Trust Co LLC Has $49.37 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Hemenway Trust Co LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 4.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 372,188 shares of the healthcare product maker’s stock after buying an additional 14,775 shares during the quarter. Abbott Laboratories comprises approximately 4.0% of Hemenway Trust Co LLC’s portfolio, making the stock its 5th biggest position. Hemenway Trust Co LLC’s holdings in Abbott Laboratories were worth $49,371,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ABT. Norges Bank bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $2,373,461,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Abbott Laboratories by 383.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock valued at $945,453,000 after purchasing an additional 6,628,310 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $635,056,000. GAMMA Investing LLC grew its stake in shares of Abbott Laboratories by 15,420.4% during the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock valued at $676,866,000 after purchasing an additional 5,069,771 shares during the period. Finally, Capital International Investors grew its stake in shares of Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after purchasing an additional 2,229,026 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ABT shares. Leerink Partners started coverage on Abbott Laboratories in a research note on Monday. They set a “market perform” rating and a $143.00 price target for the company. Morgan Stanley lifted their price objective on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research report on Thursday, April 17th. The Goldman Sachs Group boosted their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Bank of America raised their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.61.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $132.18 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The firm has a fifty day moving average price of $131.80 and a 200 day moving average price of $126.62. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The firm has a market cap of $229.97 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 2.53 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. Abbott Laboratories’s dividend payout ratio is 30.61%.

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.