Invesco LLC grew its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 62.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,018 shares of the healthcare product maker’s stock after buying an additional 6,518 shares during the quarter. Abbott Laboratories accounts for approximately 0.9% of Invesco LLC’s investment portfolio, making the stock its 29th biggest holding. Invesco LLC’s holdings in Abbott Laboratories were worth $2,257,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Abbott Laboratories by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock valued at $19,075,481,000 after purchasing an additional 739,260 shares during the last quarter. Capital International Investors increased its holdings in Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after buying an additional 2,229,026 shares during the last quarter. Capital Research Global Investors raised its position in Abbott Laboratories by 1.5% in the fourth quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock worth $6,118,903,000 after acquiring an additional 795,073 shares during the period. Geode Capital Management LLC grew its position in shares of Abbott Laboratories by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock valued at $4,023,027,000 after acquiring an additional 765,636 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Abbott Laboratories by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock worth $2,985,233,000 after purchasing an additional 581,325 shares during the last quarter. 75.18% of the stock is owned by institutional investors.
Insider Transactions at Abbott Laboratories
In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company’s stock.
Abbott Laboratories Price Performance
Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. On average, sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.
Abbott Laboratories Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories’s payout ratio is 30.61%.
Analyst Upgrades and Downgrades
ABT has been the topic of several research reports. Jefferies Financial Group boosted their target price on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, April 17th. Royal Bank Of Canada raised their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Citigroup boosted their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Morgan Stanley lifted their target price on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.61.
Check Out Our Latest Stock Report on Abbott Laboratories
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.
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