Hartford Funds Management Co LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 8.6% in the 4th quarter, Holdings Channel reports. The fund owned 4,143 shares of the healthcare product maker’s stock after buying an additional 327 shares during the period. Hartford Funds Management Co LLC’s holdings in Abbott Laboratories were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of ABT. International Assets Investment Management LLC raised its position in Abbott Laboratories by 14,037.9% during the fourth quarter. International Assets Investment Management LLC now owns 1,349,176 shares of the healthcare product maker’s stock valued at $148,504,000 after acquiring an additional 1,339,633 shares in the last quarter. Wellington Management Group LLP raised its position in Abbott Laboratories by 4.3% during the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after acquiring an additional 1,298,219 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Abbott Laboratories by 30.8% during the third quarter. Envestnet Asset Management Inc. now owns 3,627,373 shares of the healthcare product maker’s stock valued at $351,311,000 after acquiring an additional 853,997 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in Abbott Laboratories by 28.0% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,664,856 shares of the healthcare product maker’s stock valued at $354,941,000 after purchasing an additional 801,191 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Abbott Laboratories by 47.7% in the third quarter. Canada Pension Plan Investment Board now owns 2,423,715 shares of the healthcare product maker’s stock valued at $234,737,000 after purchasing an additional 783,090 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.
Abbott Laboratories Trading Down 1.2 %
NYSE ABT traded down $1.33 on Tuesday, reaching $105.94. 5,073,568 shares of the company were exchanged, compared to its average volume of 5,625,535. The business’s fifty day moving average price is $113.29 and its 200 day moving average price is $108.44. The stock has a market capitalization of $183.82 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.
Abbott Laboratories Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.
Wall Street Analyst Weigh In
ABT has been the topic of several research analyst reports. Barclays dropped their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Raymond James reissued a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada dropped their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Evercore ISI lifted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Citigroup lifted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.50.
Check Out Our Latest Report on Abbott Laboratories
Insider Buying and Selling at Abbott Laboratories
In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the sale, the executive vice president now owns 78,704 shares in the company, valued at approximately $9,444,480. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock worth $1,670,048 over the last quarter. 0.47% of the stock is currently owned by company insiders.
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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