Truist Financial Corp lowered its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,319,288 shares of the healthcare product maker’s stock after selling 22,999 shares during the period. Truist Financial Corp owned about 0.08% of Abbott Laboratories worth $179,436,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Nuveen LLC bought a new position in shares of Abbott Laboratories in the first quarter worth about $1,658,180,000. Goldman Sachs Group Inc. lifted its stake in Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP boosted its position in Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after buying an additional 3,371,113 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after buying an additional 1,639,954 shares during the last quarter. Finally, Jensen Investment Management Inc. increased its holdings in shares of Abbott Laboratories by 1,221.2% during the first quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker’s stock worth $181,171,000 after buying an additional 1,262,407 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Trading Up 0.6%
ABT opened at $133.97 on Wednesday. The company has a market cap of $233.17 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The company has a fifty day moving average price of $131.48 and a two-hundred day moving average price of $131.22. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.
Abbott Laboratories Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.
Insider Buying and Selling
In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on ABT. Leerink Partners initiated coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective on the stock. Raymond James Financial cut their target price on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a report on Friday, July 18th. Evercore ISI increased their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Wells Fargo & Company cut their price objective on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Finally, BTIG Research decreased their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.22.
View Our Latest Research Report on Abbott Laboratories
Abbott Laboratories Profile
Abbott Laboratories, together with its subsidiaries, 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 company 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.
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