Alberta Investment Management Corp cut its stake in shares of Abbott Laboratories (NYSE:ABT – Free 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 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
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.
Recommended Stories
- Five stocks we like better than Abbott Laboratories
- What is the FTSE 100 index?
- Golden Cross Alert: 3 Stocks With Serious Upside Potential
- What Are Dividend Champions? How to Invest in the Champions
- Big Beat, Bigger Plans: AEP Stock Powers Up on Data Center Boom
- With Risk Tolerance, One Size Does Not Fit All
- Why Byrna Could Be the Top Defense Stock to Watch Now
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT – Free Report).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.