BTIM Corp. Acquires 7,914 Shares of Abbott Laboratories (ABT)
BTIM Corp. grew its holdings in Abbott Laboratories (NYSE:ABT) by 15.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,249 shares of the healthcare product maker’s stock after purchasing an additional 7,914 shares during the quarter. BTIM Corp.’s holdings in Abbott Laboratories were worth $4,816,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of ABT. Vanguard Group Inc boosted its stake in Abbott Laboratories by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 139,012,321 shares of the healthcare product maker’s stock worth $10,197,944,000 after acquiring an additional 2,208,781 shares during the last quarter. BlackRock Inc. boosted its stake in Abbott Laboratories by 3.3% during the 4th quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock worth $8,755,228,000 after acquiring an additional 3,842,101 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Abbott Laboratories by 7,559.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,095,862 shares of the healthcare product maker’s stock worth $416,000 after acquiring an additional 29,702,943 shares during the last quarter. Northern Trust Corp boosted its stake in Abbott Laboratories by 2.7% during the 4th quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock worth $1,924,260,000 after acquiring an additional 708,691 shares during the last quarter. Finally, FMR LLC boosted its stake in Abbott Laboratories by 118.2% during the 4th quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock worth $1,718,726,000 after acquiring an additional 12,871,418 shares during the last quarter. 74.70% of the stock is currently owned by institutional investors.
Shares of ABT opened at $75.97 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58. Abbott Laboratories has a twelve month low of $60.31 and a twelve month high of $80.74. The company has a market capitalization of $134.02 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 2.14 and a beta of 1.11.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Friday, April 12th. Abbott Laboratories’s payout ratio is currently 44.44%.
In other news, CFO Brian B. Yoor sold 2,246 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $78.00, for a total value of $175,188.00. Following the sale, the chief financial officer now directly owns 116,627 shares in the company, valued at $9,096,906. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jared Watkin sold 1,391 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $78.00, for a total transaction of $108,498.00. Following the completion of the sale, the senior vice president now owns 75,926 shares in the company, valued at $5,922,228. The disclosure for this sale can be found here. In the last ninety days, insiders sold 551,643 shares of company stock worth $42,471,501. Insiders own 0.70% of the company’s stock.
Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Friday, May 10th. William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Finally, Barclays set a $84.00 price objective on shares of Abbott Laboratories and gave the stock a “buy” rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $80.36.
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Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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