Flossbach Von Storch AG raised its position in Abbott Laboratories (NYSE:ABT) by 64.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,446,732 shares of the healthcare product maker’s stock after purchasing an additional 2,143,839 shares during the period. Abbott Laboratories comprises approximately 2.9% of Flossbach Von Storch AG’s portfolio, making the stock its 13th biggest holding. Flossbach Von Storch AG’s holdings in Abbott Laboratories were worth $429,802,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at $1,463,224,000. Polen Capital Management LLC lifted its position in shares of Abbott Laboratories by 7,236.6% in 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. Veritas Asset Management LLP purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $398,420,000. BlackRock Inc. lifted its position in shares of Abbott Laboratories by 2.7% in the first quarter. BlackRock Inc. now owns 128,123,947 shares of the healthcare product maker’s stock valued at $10,110,260,000 after acquiring an additional 3,395,345 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Abbott Laboratories by 1,199.2% during the first quarter. Fisher Asset Management LLC now owns 3,563,878 shares of the healthcare product maker’s stock worth $281,226,000 after buying an additional 3,289,573 shares during the period. 74.89% of the stock is currently owned by institutional investors.
In other Abbott Laboratories news, VP Philip P. Boudreau sold 10,600 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $82.00, for a total transaction of $869,200.00. Following the completion of the sale, the vice president now owns 22,463 shares in the company, valued at approximately $1,841,966. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Christopher J. Scoggins sold 414 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $96.10, for a total value of $39,785.40. Following the sale, the senior vice president now owns 39,706 shares of the company’s stock, valued at approximately $3,815,746.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,186 shares of company stock valued at $15,359,524. 1.70% of the stock is owned by insiders.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Abbott Laboratories had a return on equity of 18.61% and a net margin of 11.15%. The business had revenue of $7.73 billion during the quarter, compared to analyst estimates of $7.47 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 2.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 8th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.35%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.
Several equities analysts recently weighed in on the company. Credit Suisse Group reiterated a “buy” rating and set a $106.00 target price on shares of Abbott Laboratories in a research report on Friday. Wells Fargo & Co increased their target price on Abbott Laboratories from $95.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Goldman Sachs Group assumed coverage on Abbott Laboratories in a research report on Wednesday, February 12th. They set a “neutral” rating and a $96.00 target price on the stock. Barclays increased their target price on Abbott Laboratories from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, Cfra increased their target price on Abbott Laboratories from $99.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $99.47.
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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