Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 220,023 shares of the healthcare product maker’s stock after buying an additional 6,074 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Abbott Laboratories were worth $29,186,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Redwood Park Advisors LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at about $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC raised its stake in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after acquiring an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $29,000. 75.18% of the stock is owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director owned 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent research reports. Leerink Partners began coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price for the company. Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Royal Bank Of Canada lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Raymond James Financial raised their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Finally, Morgan Stanley upped their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $142.61.

Check Out Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Price Performance

ABT opened at $136.09 on Tuesday. The stock has a fifty day simple moving average of $132.94 and a two-hundred day simple moving average of $127.91. The company has a market cap of $236.77 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 2.55 and a beta of 0.73. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. Research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared 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 1.73%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

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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