Abbott Laboratories $ABT Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 6.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,254,659 shares of the healthcare product maker’s stock after selling 80,618 shares during the period. Eurizon Capital SGR S.p.A. owned about 0.07% of Abbott Laboratories worth $124,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. BlackRock Inc. raised its position in Abbott Laboratories by 4.6% in the second quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock worth $13,843,610,000 after acquiring an additional 6,769,518 shares during the period. State Street Corp boosted its stake in Abbott Laboratories by 1.7% in the second quarter. State Street Corp now owns 80,926,234 shares of the healthcare product maker’s stock valued at $7,343,246,000 after acquiring an additional 1,350,766 shares during the last quarter. Bank of America Corp DE purchased a new position in Abbott Laboratories in the second quarter valued at about $1,603,607,000. Deutsche Bank AG grew its position in shares of Abbott Laboratories by 18.6% during the 2nd quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock valued at $1,515,963,000 after acquiring an additional 2,614,965 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $1,082,524,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

NYSE ABT opened at $107.23 on Friday. The company has a market cap of $185.71 billion, a PE ratio of 40.01, a price-to-earnings-growth ratio of 1.92 and a beta of 0.54. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $132.02. The company has a quick ratio of 1.00, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $103.94 and its two-hundred day simple moving average is $101.74.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.42. The firm had revenue of $13.01 billion during the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 18.04%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $1.30 earnings per share. Research analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 94.03%.

Insider Buying and Selling

In related news, EVP Mary Moreland sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $116.00, for a total value of $406,000.00. Following the completion of the transaction, the executive vice president directly owned 100,791 shares of the company’s stock, valued at approximately $11,691,756. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen decreased their price target on shares of Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Piper Sandler reiterated an “overweight” rating and issued a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Citigroup reduced their price objective on Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Wall Street Zen raised Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Finally, Rothschild & Co Redburn raised Abbott Laboratories from a “neutral” rating to a “buy” rating and raised their target price for the stock from $119.00 to $127.00 in a research report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.32.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings. Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.