Mitsubishi UFJ Trust & Banking Corp Raises Stake in Abbott Laboratories (NYSE:ABT)
Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,624,340 shares of the healthcare product maker’s stock after purchasing an additional 97,552 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of Abbott Laboratories worth $128,176,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Abbott Laboratories by 2.7% during the 1st quarter. BlackRock Inc. now owns 128,123,947 shares of the healthcare product maker’s stock worth $10,110,260,000 after buying an additional 3,395,345 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Abbott Laboratories by 0.5% during the 4th quarter. Capital Research Global Investors now owns 113,689,293 shares of the healthcare product maker’s stock worth $9,875,052,000 after buying an additional 616,255 shares during the last quarter. State Street Corp raised its stake in shares of Abbott Laboratories by 0.7% during the 1st quarter. State Street Corp now owns 74,084,521 shares of the healthcare product maker’s stock worth $5,846,010,000 after buying an additional 528,871 shares during the last quarter. Capital International Investors raised its stake in shares of Abbott Laboratories by 2.9% during the 4th quarter. Capital International Investors now owns 47,327,202 shares of the healthcare product maker’s stock worth $4,110,841,000 after buying an additional 1,328,056 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Abbott Laboratories by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 25,003,825 shares of the healthcare product maker’s stock worth $2,167,251,000 after buying an additional 330,243 shares during the last quarter. Institutional investors own 73.64% of the company’s stock.
Several research analysts have recently issued reports on the company. Wells Fargo & Co lifted their price target on Abbott Laboratories from $95.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 target price for the company. in a research note on Wednesday, April 15th. SVB Leerink cut their target price on shares of Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating for the company in a research note on Wednesday, April 8th. BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, April 16th. Finally, Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $85.00 to $108.00 in a research note on Friday, April 17th. Three analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $98.76.
Shares of NYSE:ABT traded down $1.29 during trading on Monday, reaching $93.63. 3,470,587 shares of the stock were exchanged, compared to its average volume of 6,839,548. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.43. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $100.00. The firm has a market cap of $167.90 billion, a price-to-earnings ratio of 47.70, a price-to-earnings-growth ratio of 3.94 and a beta of 0.98. The firm’s 50-day moving average price is $91.59 and its 200 day moving average price is $86.03.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.07. Abbott Laboratories had a return on equity of 18.61% and a net margin of 11.15%. The business had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $7.47 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Abbott Laboratories will post 2.81 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 8th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. Abbott Laboratories’s payout ratio is currently 44.44%.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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