Several institutional investors recently traded shares of Abbott Laboratories.
Vanguard Group Inc. increased its stake by 5.6%, owning over 165 million shares valued at approximately $18.79 billion.
Capital International Investors raised its holdings by 9.1%, now owning 70 million shares worth around $7.98 billion.
Wellington Management grew its share by 3.3%, holding about 32 million shares valued at $3.55 billion.
Ameriprise Financial lifted its stake by 5.0%, owning around 10.68 million shares worth about $1.10 billion.
Lastly, Fisher Asset Management increased its holdings by 2.4%, now having nearly 10 million shares valued at $1.09 billion.
In total, institutional investors possess 75.18% of Abbott’s stock.
Insider Transactions at Abbott Laboratories
CEO Robert B. Ford sold 141,679 shares on September 12th at an average of $116.41, totaling about $16.49 million. After the sale, he retains 220,059 shares valued at around $25.62 million. This transaction was filed with the SEC.
Corporate insiders hold 1.10% of the companys stock.
Analyst Ratings Changes
Recent analyst reports on Abbott Laboratories (ABT) include:
– Citigroup: Price target raised from $119 to $127; rated buy.
– Piper Sandler: Initiated coverage with an overweight rating and a $131 target.
– Jefferies: Maintained a hold rating with a $120 target.
– Evercore ISI: Raised target from $120 to $124; rated outperform.
– Edward Jones: Downgraded from buy to hold.
Overall, Abbott has an average rating of Moderate Buy with a consensus target of $124.33.
Abbott Laboratories Price Performance
ABT opened at $112.23 on Friday, with a market cap of $195.24 billion and a P/E ratio of 34.96.
The stock’s 50-day average is $112.22, and its 200-day average is $108.22.
The 1-year low and high are $89.67 and $121.64, respectively.
The company reported $1.14 EPS for the last quarter, exceeding estimates of $1.10, with a revenue of $10.38 billion.
Abbott Laboratories Dividend Announcement
Abbott has declared a quarterly dividend of $0.55, payable on November 15th.
Stockholders as of October 15th will receive it, representing an annualized dividend of $2.20 and a yield of 1.96%.
The payout ratio is 68.54%.
Abbott Laboratories Company Profile
Abbott Laboratories develops and sells health care products globally across four segments: Pharmaceuticals, Diagnostics, Nutrition, and Medical Devices.
Their product range includes medications for various conditions and vaccines.
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