Avity Investment Management Inc. raised its holdings in shares of Abbott Laboratories (NYSE:ABT – Get Rating) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 293,674 shares of the healthcare product maker’s stock after acquiring an additional 3,470 shares during the quarter. Abbott Laboratories makes up 2.9% of Avity Investment Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Avity Investment Management Inc.’s holdings in Abbott Laboratories were worth $29,737,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. JDM Financial Group LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new position in Abbott Laboratories in the fourth quarter valued at $28,000. FWL Investment Management LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $33,000. True Wealth Design LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $33,000. Finally, WFA of San Diego LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $34,000. 73.08% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on ABT shares. Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Thursday, April 20th. Wolfe Research lowered their price objective on shares of Abbott Laboratories from $107.00 to $103.00 and set an “underperform” rating on the stock in a research report on Thursday, April 20th. BTIG Research boosted their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, April 17th. SVB Leerink upped their price objective on shares of Abbott Laboratories from $90.00 to $102.00 and gave the stock a “market perform” rating in a report on Friday, March 31st. Finally, UBS Group upped their price objective on shares of Abbott Laboratories from $117.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.26.
Abbott Laboratories Stock Performance
Shares of ABT traded down $1.04 during midday trading on Tuesday, reaching $107.47. The stock had a trading volume of 1,085,868 shares, compared to its average volume of 5,100,819. The firm has a market cap of $186.88 billion, a PE ratio of 32.98, a P/E/G ratio of 4.84 and a beta of 0.67. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $107.02 and a 200-day simple moving average of $106.37. Abbott Laboratories has a one year low of $93.25 and a one year high of $115.69.
Abbott Laboratories (NYSE:ABT – Get Rating) last issued its quarterly earnings data on Wednesday, April 19th. The healthcare product maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. Abbott Laboratories had a net margin of 13.98% and a return on equity of 22.36%. The business had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.64 billion. During the same quarter in the previous year, the company earned $1.73 EPS. The business’s revenue was down 18.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.39 EPS for the current year.
Abbott Laboratories Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, July 13th. Abbott Laboratories’s payout ratio is 62.01%.
Insider Activity at Abbott Laboratories
In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $111.02, for a total value of $5,551,000.00. Following the completion of the transaction, the director now directly owns 6,825,316 shares in the company, valued at approximately $757,746,582.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 8,226 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $110.56, for a total value of $909,466.56. Following the transaction, the executive vice president now directly owns 70,427 shares of the company’s stock, valued at $7,786,409.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $111.02, for a total transaction of $5,551,000.00. Following the transaction, the director now directly owns 6,825,316 shares in the company, valued at $757,746,582.32. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
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 Established Pharmaceutical Products segment 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.