Abbott Laboratories $ABT Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 28.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,237 shares of the healthcare product maker’s stock after selling 113,813 shares during the period. QRG Capital Management Inc.’s holdings in Abbott Laboratories were worth $38,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. IMG Wealth Management Inc. boosted 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 in the last quarter. Anfield Capital Management LLC raised its position in Abbott Laboratories by 81.3% during the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $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 second quarter valued at approximately $32,000. Curio Wealth LLC boosted its stake in shares of Abbott Laboratories by 15,250.0% in the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after acquiring an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC raised 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. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ABT shares. BTIG Research restated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Thursday, November 20th. Sanford C. Bernstein increased 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. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.42.

Abbott Laboratories Price Performance

ABT stock opened at $121.82 on Friday. Abbott Laboratories has a 1 year low of $113.39 and a 1 year high of $141.23. The firm has a market capitalization of $211.83 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.05 and a beta of 0.72. 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 business’s 50-day moving average is $126.01 and its two-hundred day moving average is $129.00.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share 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 firm had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter last year, the company earned $1.21 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.1%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, January 15th. Abbott Laboratories’s dividend payout ratio is currently 31.58%.

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.