Several institutional investors have recently traded shares of Abbott Laboratories. Vanguard Group increased its holdings by 5.6% in Q1, now owning over 165 million shares worth around $18.79 billion. Capital International raised its position by 9.1%, now holding about 70 million shares valued at $7.98 billion. Wellington Management grew its stake by 3.3%, owning over 32 million shares worth approximately $3.55 billion. Ameriprise increased its stake by 5.0%, with around 10.68 million shares valued at $1.10 billion. Finally, Fisher Asset Management raised its holdings by 2.4%, now owning about 9.92 million shares worth around $1.09 billion. Collectively, institutional investors own 75.18% of the company.
Insider Transactions at Abbott Laboratories
On September 12, CEO Robert B. Ford sold 141,679 shares at $116.41 each, totaling about $16.49 million. Post-sale, he owns 220,059 shares worth approximately $25.62 million. This transaction was disclosed to the SEC. Corporate insiders own 1.10% of Abbott’s stock.
Analyst Ratings Changes
Various research firms have updated their ratings on Abbott Laboratories (ABT). Citigroup raised their price target from $119 to $127 and rated it a “buy.” Piper Sandler initiated coverage with an “overweight” rating and a $131 target. Jefferies maintained a “hold” rating at $120. Evercore ISI increased its target from $120 to $124, while Edward Jones downgraded from “buy” to “hold.” Currently, three analysts rate it a “hold,” and ten a “buy,” giving an average rating of Moderate Buy and a target of $124.33.
Check Out Our Latest Stock Analysis on Abbott Laboratories
Abbott Laboratories Price Performance
On Friday, ABT shares opened at $112.23, with a market cap of $195.24 billion, P/E ratio of 34.96, and a debt-to-equity ratio of 0.33. The stock’s one-year low is $89.67 and high is $121.64. Their recent earnings report showed $1.14 EPS, surpassing estimates, with quarterly revenue up 4.0% compared to last year.
Abbott Laboratories Dividend Announcement
Abbott recently announced a quarterly dividend of $0.55, payable on November 15 to shareholders recorded by October 15, representing a 1.96% yield.
Abbott Laboratories Company Profile
(Free Report) Abbott Laboratories develops and sells healthcare products globally, operating in four segments: Pharmaceuticals, Diagnostics, Nutrition, and Medical Devices.
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