Gold Investment Management Ltd. Has $1.79 Million Position in Abbott Laboratories (NYSE:ABT)

Gold Investment Management Ltd. cut its position in Abbott Laboratories (NYSE:ABTFree Report) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,754 shares of the healthcare product maker’s stock after selling 1,501 shares during the quarter. Gold Investment Management Ltd.’s holdings in Abbott Laboratories were worth $1,791,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after buying an additional 701,740 shares in the last quarter. Capital Research Global Investors increased its stake in Abbott Laboratories by 9.5% during the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after purchasing an additional 7,527,778 shares in the last quarter. Capital International Investors raised its holdings in shares of Abbott Laboratories by 2.3% in the 4th quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock worth $7,077,148,000 after acquiring an additional 1,457,847 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Abbott Laboratories by 3.3% during the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after buying an additional 1,027,390 shares during the last quarter. Finally, Norges Bank bought a new stake in Abbott Laboratories in the 4th quarter worth about $2,115,836,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Evercore ISI decreased their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Citigroup reduced their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Finally, Raymond James reaffirmed a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.18.

Check Out Our Latest Stock Analysis on Abbott Laboratories

Abbott Laboratories Trading Up 1.3 %

Abbott Laboratories stock traded up $1.37 during mid-day trading on Wednesday, hitting $103.01. The company’s stock had a trading volume of 6,598,893 shares, compared to its average volume of 5,664,036. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The company has a 50 day moving average of $104.12 and a 200-day moving average of $109.80. The stock has a market cap of $179.20 billion, a PE ratio of 32.09, a P/E/G ratio of 2.46 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the prior year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.14%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories Company Profile

(Free Report)

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.

See Also

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

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