Swarthmore Group Inc. Raises Stock Position in Abbott Laboratories (NYSE:ABT)


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Swarthmore Group Inc. increased its holdings in Abbott Laboratories (NYSE:ABT) by 1,022.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,140 shares of the healthcare product maker’s stock after purchasing an additional 91,217 shares during the quarter. Abbott Laboratories makes up 3.3% of Swarthmore Group Inc.’s investment portfolio, making the stock its 2nd biggest holding. Swarthmore Group Inc.’s holdings in Abbott Laboratories were worth $12,001,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Morgan Stanley raised its holdings in shares of Abbott Laboratories by 5.2% during the fourth quarter. Morgan Stanley now owns 26,687,412 shares of the healthcare product maker’s stock valued at $2,922,006,000 after purchasing an additional 1,316,343 shares during the period. Bank of New York Mellon Corp boosted its holdings in Abbott Laboratories by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 21,322,955 shares of the healthcare product maker’s stock worth $2,334,649,000 after buying an additional 572,841 shares during the period. Wells Fargo & Company MN boosted its holdings in Abbott Laboratories by 1.2% in the 4th quarter. Wells Fargo & Company MN now owns 20,057,853 shares of the healthcare product maker’s stock worth $2,196,135,000 after buying an additional 229,413 shares during the period. FMR LLC boosted its holdings in Abbott Laboratories by 20.3% in the 4th quarter. FMR LLC now owns 18,139,806 shares of the healthcare product maker’s stock worth $1,986,127,000 after buying an additional 3,058,593 shares during the period. Finally, Norges Bank bought a new position in Abbott Laboratories in the 4th quarter worth approximately $1,881,512,000. 72.58% of the stock is currently owned by institutional investors.

Several research firms have issued reports on ABT. SVB Leerink increased their target price on shares of Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a research note on Thursday, January 28th. Raymond James raised their price objective on shares of Abbott Laboratories from $126.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. BTIG Research upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Thursday, January 28th. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a report on Tuesday, April 20th. Finally, Atlantic Securities assumed coverage on shares of Abbott Laboratories in a report on Wednesday, April 21st. They set a “neutral” rating and a $122.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $126.06.

Shares of Abbott Laboratories stock opened at $119.53 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.70. The stock has a market capitalization of $211.75 billion, a PE ratio of 63.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. Abbott Laboratories has a 52-week low of $86.16 and a 52-week high of $128.54. The company has a 50-day simple moving average of $120.90 and a two-hundred day simple moving average of $115.19.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The business 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. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, equities research analysts forecast that Abbott Laboratories will post 3.57 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Thursday, April 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 55.56%.

In related news, EVP Mary K. Moreland sold 400 shares of the company’s stock in a transaction on Monday, February 22nd. The shares were sold at an average price of $121.84, for a total transaction of $48,736.00. Following the sale, the executive vice president now owns 76,886 shares of the company’s stock, valued at $9,367,790.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mary K. Moreland sold 505 shares of the company’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $128.49, for a total transaction of $64,887.45. Following the sale, the executive vice president now directly owns 63,878 shares in the company, valued at approximately $8,207,684.22. The disclosure for this sale can be found here. Insiders sold 8,726 shares of company stock worth $1,064,230 in the last three months. Insiders own 1.70% of the company’s stock.

Abbott Laboratories Profile

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.

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

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