Profund Advisors LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,883 shares of the healthcare product maker’s stock after acquiring an additional 3,966 shares during the quarter. Profund Advisors LLC’s holdings in Abbott Laboratories were worth $4,333,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Polen Capital Management LLC increased its holdings in shares of Abbott Laboratories by 7,236.6% during the fourth quarter. Polen Capital Management LLC now owns 8,924,157 shares of the healthcare product maker’s stock valued at $775,152,000 after acquiring an additional 8,802,518 shares in the last quarter. Wealth Quarterback LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $282,410,000. State Street Corp increased its holdings in shares of Abbott Laboratories by 1.3% during the fourth quarter. State Street Corp now owns 73,555,650 shares of the healthcare product maker’s stock valued at $6,389,044,000 after acquiring an additional 978,575 shares in the last quarter. GQG Partners LLC increased its holdings in shares of Abbott Laboratories by 9.0% during the fourth quarter. GQG Partners LLC now owns 7,524,302 shares of the healthcare product maker’s stock valued at $653,756,000 after acquiring an additional 619,440 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Abbott Laboratories by 4.5% during the fourth quarter. Alliancebernstein L.P. now owns 14,072,375 shares of the healthcare product maker’s stock valued at $1,222,326,000 after acquiring an additional 610,015 shares in the last quarter. Hedge funds and other institutional investors own 75.02% of the company’s stock.
ABT stock traded up $5.06 during midday trading on Thursday, hitting $75.81. The company’s stock had a trading volume of 10,498,263 shares, compared to its average volume of 7,675,181. The stock’s 50-day moving average price is $81.95 and its 200 day moving average price is $84.07. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.53. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $92.45. The stock has a market cap of $122.89 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 1.83 and a beta of 1.17.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Tuesday, April 14th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.08. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
In related news, SVP Joseph J. Manning sold 37,500 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $89.58, for a total transaction of $3,359,250.00. Following the sale, the senior vice president now directly owns 88,032 shares in the company, valued at approximately $7,885,906.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Philip P. Boudreau sold 10,600 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $82.00, for a total value of $869,200.00. Following the sale, the vice president now owns 22,463 shares in the company, valued at $1,841,966. The disclosure for this sale can be found here. Insiders have sold a total of 568,733 shares of company stock worth $50,878,762 in the last ninety days. Insiders own 1.70% of the company’s stock.
Several equities research analysts have recently commented on ABT shares. Guggenheim downgraded Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, January 2nd. Goldman Sachs Group assumed coverage on Abbott Laboratories in a report on Wednesday, February 12th. They set a “neutral” rating and a $96.00 price target for the company. Morgan Stanley upped their price target on Abbott Laboratories from $93.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. decreased their price target on Abbott Laboratories from to in a report on Thursday, January 23rd. Finally, BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus price target of $96.13.
About Abbott Laboratories
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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