American Century Companies Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,857,525 shares of the healthcare product maker’s stock after selling 150,412 shares during the period. American Century Companies Inc. owned about 0.11% of Abbott Laboratories worth $106,009,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in shares of Abbott Laboratories by 45.7% during the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after buying an additional 14,918,038 shares during the period. Janus Henderson Group PLC increased its stake in shares of Abbott Laboratories by 3,373.9% during the second quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock valued at $382,779,000 after buying an additional 7,647,798 shares during the period. Vanguard Group Inc. increased its stake in shares of Abbott Laboratories by 2.6% during the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after buying an additional 3,241,063 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Abbott Laboratories by 28.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after buying an additional 2,606,404 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Abbott Laboratories by 76.1% during the second quarter. Principal Financial Group Inc. now owns 4,557,426 shares of the healthcare product maker’s stock valued at $221,536,000 after buying an additional 1,969,723 shares during the period. Institutional investors and hedge funds own 72.46% of the company’s stock.
Shares of Abbott Laboratories (ABT) opened at $63.62 on Tuesday. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $111,100.00, a PE ratio of 61.17, a price-to-earnings-growth ratio of 1.91 and a beta of 1.52. Abbott Laboratories has a twelve month low of $42.31 and a twelve month high of $64.60.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 107.69%.
Several equities analysts have recently commented on the company. Wells Fargo & Co raised their price target on Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. William Blair upgraded Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price objective on the stock in a research report on Tuesday, January 2nd. Finally, Barclays raised their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $65.47.
In other Abbott Laboratories news, insider Brian J. Blaser sold 27,733 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total value of $1,726,656.58. Following the completion of the sale, the insider now owns 156,587 shares of the company’s stock, valued at $9,749,106.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel J. Starks purchased 40,037 shares of the stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $60.67 per share, with a total value of $2,429,044.79. Following the acquisition, the director now owns 6,943,348 shares of the company’s stock, valued at approximately $421,252,923.16. The disclosure for this purchase can be found here. In the last three months, insiders sold 144,318 shares of company stock valued at $8,596,826. Corporate insiders own 0.76% of the company’s stock.
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Abbott Laboratories Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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