Abbott Laboratories (NYSE:ABT) Stock Holdings Lessened by Cable Hill Partners LLC

Cable Hill Partners LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 13.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,556 shares of the healthcare product maker’s stock after selling 1,517 shares during the quarter. Cable Hill Partners LLC’s holdings in Abbott Laboratories were worth $1,255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Norges Bank bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $2,373,461,000. T. Rowe Price Investment Management Inc. raised its position in Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock valued at $945,453,000 after acquiring an additional 6,628,310 shares in the last quarter. GAMMA Investing LLC raised its position in Abbott Laboratories by 15,420.4% during the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock valued at $676,866,000 after acquiring an additional 5,069,771 shares in the last quarter. Capital International Investors raised its position 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 valued at $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Finally, Northern Trust Corp raised its position in Abbott Laboratories by 10.3% during the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker’s stock valued at $2,494,851,000 after acquiring an additional 2,060,650 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction 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 sale, the director owned 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.5%

ABT opened at $131.41 on Wednesday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The firm’s fifty day moving average price is $133.47 and its two-hundred day moving average price is $129.31. The company has a market capitalization of $228.63 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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 paid a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.80%. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ABT. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Wells Fargo & Company increased their price target on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Piper Sandler reiterated an “overweight” rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Raymond James Financial increased their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Finally, Jefferies Financial Group increased their price target on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.78.

Abbott Laboratories Profile

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.