Capital International Inc. CA raised its position in Abbott Laboratories (NYSE:ABT – Free Report) by 17.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 965,236 shares of the healthcare product maker’s stock after acquiring an additional 144,033 shares during the quarter. Abbott Laboratories makes up 1.0% of Capital International Inc. CA’s investment portfolio, making the stock its 23rd largest position. Capital International Inc. CA’s holdings in Abbott Laboratories were worth $129,284,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Cloud Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $29,000. Guerra Advisors Inc purchased a new stake in Abbott Laboratories in the third quarter worth $31,000. Anfield Capital Management LLC boosted its holdings in Abbott Laboratories by 81.3% in the second 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 in the last quarter. Delos Wealth Advisors LLC bought a new position in Abbott Laboratories in the 2nd quarter worth $32,000. Finally, Bridge Generations Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Price Performance
ABT stock opened at $112.69 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.18 and a current ratio of 1.58. The firm has a market capitalization of $195.82 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.74 and a beta of 0.74. The firm has a 50 day moving average price of $115.86 and a 200-day moving average price of $124.44. Abbott Laboratories has a 52-week low of $105.27 and a 52-week high of $139.15.
Abbott Laboratories Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 67.74%.
Insider Activity
In other news, VP John A. Jr. Mccoy sold 585 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $115.58, for a total value of $67,614.30. Following the completion of the sale, the vice president directly owned 24,628 shares in the company, valued at $2,846,504.24. This represents a 2.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Elizabeth C. Cushman sold 263 shares of Abbott Laboratories stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $115.58, for a total value of $30,397.54. Following the transaction, the executive vice president owned 38,573 shares in the company, valued at $4,458,267.34. This trade represents a 0.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,055 shares of company stock worth $353,097. Company insiders own 0.46% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on ABT shares. Piper Sandler reduced their price target on shares of Abbott Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Freedom Capital upgraded Abbott Laboratories from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Daiwa Securities Group decreased their target price on Abbott Laboratories from $136.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Citigroup dropped their price target on Abbott Laboratories from $155.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Finally, Sanford C. Bernstein decreased their price objective on Abbott Laboratories from $154.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $136.37.
Check Out Our Latest Analysis on ABT
Abbott Laboratories 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.
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