Abbott Laboratories (NYSE:ABT) Holdings Cut by Alberta Investment Management Corp

Alberta Investment Management Corp cut its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,749 shares of the healthcare product maker’s stock after selling 14,886 shares during the quarter. Alberta Investment Management Corp’s holdings in Abbott Laboratories were worth $16,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Howland Capital Management LLC grew its stake in Abbott Laboratories by 38.1% during the 1st quarter. Howland Capital Management LLC now owns 42,147 shares of the healthcare product maker’s stock worth $5,591,000 after buying an additional 11,636 shares during the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of Abbott Laboratories by 6.5% during the first quarter. Nicolet Advisory Services LLC now owns 35,160 shares of the healthcare product maker’s stock valued at $4,377,000 after acquiring an additional 2,156 shares during the period. Pasadena Private Wealth LLC bought a new position in shares of Abbott Laboratories during the first quarter worth about $310,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth about $205,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Abbott Laboratories by 54.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 29,763 shares of the healthcare product maker’s stock valued at $3,948,000 after purchasing an additional 10,476 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

NYSE ABT opened at $126.16 on Friday. Abbott Laboratories has a 1 year low of $103.55 and a 1 year high of $141.23. The business’s fifty day moving average is $131.86 and its two-hundred day moving average is $130.26. The stock has a market capitalization of $219.50 billion, a P/E ratio of 15.81, a P/E/G ratio of 2.44 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Wall Street Analyst Weigh In

Several brokerages have commented on ABT. Morgan Stanley raised their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Stifel Nicolaus raised their target price on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Evercore ISI boosted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Finally, Royal Bank Of Canada upped their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $144.47.

Get Our Latest Stock Report on ABT

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

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