Abbott Laboratories (NYSE:ABT) Shares Acquired by M&G Investment Management Ltd.

M&G Investment Management Ltd. boosted its stake in Abbott Laboratories (NYSE:ABT) by 1,124.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 81,336 shares of the healthcare product maker’s stock after purchasing an additional 74,696 shares during the period. M&G Investment Management Ltd.’s holdings in Abbott Laboratories were worth $9,760,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Banque Pictet & Cie SA increased its holdings in Abbott Laboratories by 7.8% in the 1st quarter. Banque Pictet & Cie SA now owns 280,214 shares of the healthcare product maker’s stock valued at $33,581,000 after purchasing an additional 20,359 shares during the last quarter. Fifth Third Bancorp increased its holdings in Abbott Laboratories by 1.6% in the 1st quarter. Fifth Third Bancorp now owns 1,220,529 shares of the healthcare product maker’s stock valued at $146,268,000 after purchasing an additional 18,803 shares during the last quarter. Wedbush Securities Inc. increased its holdings in Abbott Laboratories by 20.5% in the 1st quarter. Wedbush Securities Inc. now owns 36,374 shares of the healthcare product maker’s stock valued at $4,359,000 after purchasing an additional 6,178 shares during the last quarter. Stratos Wealth Advisors LLC increased its holdings in Abbott Laboratories by 10.0% in the 1st quarter. Stratos Wealth Advisors LLC now owns 25,834 shares of the healthcare product maker’s stock valued at $3,096,000 after purchasing an additional 2,344 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its position in Abbott Laboratories by 5.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 21,193 shares of the healthcare product maker’s stock valued at $2,320,000 after buying an additional 1,179 shares during the period. Hedge funds and other institutional investors own 73.03% of the company’s stock.

Shares of ABT opened at $110.15 on Friday. Abbott Laboratories has a 1-year low of $86.16 and a 1-year high of $128.54. The stock has a market capitalization of $195.72 billion, a PE ratio of 34.53, a PEG ratio of 1.92 and a beta of 0.69. The company has a current ratio of 1.75, a quick ratio of 1.32 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $117.83.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Abbott Laboratories had a net margin of 15.33% and a return on equity of 24.02%. The firm had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.72 billion. During the same period in the previous year, the company earned $0.65 earnings per share. Abbott Laboratories’s quarterly revenue was up 35.2% compared to the same quarter last year. On average, analysts anticipate that Abbott Laboratories will post 4.35 earnings per share for the current fiscal year.

ABT has been the subject of several recent research reports. Atlantic Securities initiated coverage on shares of Abbott Laboratories in a research report on Thursday, April 15th. They issued a “neutral” rating and a $122.00 price target for the company. BTIG Research decreased their price target on shares of Abbott Laboratories from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, June 2nd. Wells Fargo & Company decreased their price target on shares of Abbott Laboratories from $137.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, June 2nd. Credit Suisse Group decreased their price target on shares of Abbott Laboratories from $133.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, June 2nd. Finally, Morgan Stanley decreased their price objective on shares of Abbott Laboratories from $140.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, June 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $122.00.

In other Abbott Laboratories news, SVP Jared Watkin sold 94,576 shares of Abbott Laboratories stock in a transaction on Friday, April 30th. The shares were sold at an average price of $119.90, for a total value of $11,339,662.40. Following the transaction, the senior vice president now directly owns 59,783 shares in the company, valued at $7,167,981.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

See Also: What is a Real Estate Investment Trust (REIT)?

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.