PGGM Investments Sells 34,218 Shares of Abbott Laboratories $ABT

PGGM Investments cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 810,054 shares of the healthcare product maker’s stock after selling 34,218 shares during the period. Abbott Laboratories accounts for about 1.8% of PGGM Investments’ investment portfolio, making the stock its 22nd biggest holding. PGGM Investments’ holdings in Abbott Laboratories were worth $108,499,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. IMG Wealth Management Inc. increased its holdings in Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares during the last quarter. Anfield Capital Management LLC grew its position in shares of Abbott Laboratories by 81.3% in the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after acquiring an additional 104 shares during the period. Delos Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $32,000. Curio Wealth LLC raised its holdings in shares of Abbott Laboratories by 15,250.0% in the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after purchasing an additional 305 shares during the period. Finally, Pineridge Advisors LLC lifted its stake in Abbott Laboratories by 34.6% in the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research analyst reports. Evercore ISI lifted their price target on Abbott Laboratories from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Daiwa Capital Markets boosted their target price on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Sanford C. Bernstein raised their price target on Abbott Laboratories from $150.00 to $154.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Mizuho upped their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.42.

Abbott Laboratories Stock Down 1.2%

ABT stock opened at $123.49 on Friday. Abbott Laboratories has a fifty-two week low of $111.02 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The stock has a market capitalization of $214.74 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 2.07 and a beta of 0.72. The business’s fifty day moving average price is $126.10 and its two-hundred day moving average price is $129.10.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the company posted $1.21 earnings per share. Abbott Laboratories’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be issued a dividend of $0.63 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, January 15th. Abbott Laboratories’s payout ratio is 29.57%.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.