Glovista Investments LLC Has $415,000 Position in Abbott Laboratories (NYSE:ABT)
Glovista Investments LLC raised its position in shares of Abbott Laboratories (NYSE:ABT) by 36.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,257 shares of the healthcare product maker’s stock after purchasing an additional 1,402 shares during the quarter. Glovista Investments LLC’s holdings in Abbott Laboratories were worth $415,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ABT. Norges Bank acquired a new stake in Abbott Laboratories during the 4th quarter valued at $1,463,224,000. Polen Capital Management LLC raised its stake in Abbott Laboratories by 7,236.6% during the 4th quarter. Polen Capital Management LLC now owns 8,924,157 shares of the healthcare product maker’s stock valued at $775,152,000 after purchasing an additional 8,802,518 shares during the period. Veritas Asset Management LLP acquired a new stake in Abbott Laboratories during the 1st quarter valued at $398,420,000. BlackRock Inc. raised its stake in Abbott Laboratories by 2.7% during the 1st quarter. BlackRock Inc. now owns 128,123,947 shares of the healthcare product maker’s stock valued at $10,110,260,000 after purchasing an additional 3,395,345 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Abbott Laboratories by 1,199.2% during the 1st quarter. Fisher Asset Management LLC now owns 3,563,878 shares of the healthcare product maker’s stock valued at $281,226,000 after purchasing an additional 3,289,573 shares during the period. 73.64% of the stock is currently owned by institutional investors.
NYSE:ABT traded down $1.00 during trading hours on Wednesday, reaching $91.62. The company’s stock had a trading volume of 5,465,379 shares, compared to its average volume of 6,860,380. The company has a market cap of $164.52 billion, a price-to-earnings ratio of 45.69, a price-to-earnings-growth ratio of 3.86 and a beta of 0.97. Abbott Laboratories has a one year low of $61.61 and a one year high of $100.00. The business’s 50-day moving average is $92.29 and its 200-day moving average is $86.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.01.
The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders 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 yield of 0.35%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
In other Abbott Laboratories news, EVP Andrew H. Lane sold 80,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the completion of the sale, the executive vice president now directly owns 107,090 shares in the company, valued at $9,852,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Randel William Woodgrift sold 3,724 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $93.18, for a total transaction of $347,002.32. Following the sale, the senior vice president now owns 48,767 shares of the company’s stock, valued at $4,544,109.06. The disclosure for this sale can be found here. Insiders have sold 166,186 shares of company stock valued at $15,359,524 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Several brokerages have issued reports on ABT. 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. Zacks Investment Research downgraded shares of Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 price target on the stock. in a research note on Wednesday, April 15th. Morgan Stanley dropped their price target on shares of Abbott Laboratories from $101.00 to $96.00 and set an “overweight” rating on the stock in a research note on Friday, March 27th. Barclays upped their price target on shares of Abbott Laboratories from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $106.00 price target on shares of Abbott Laboratories in a research note on Friday, May 22nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $98.76.
About Abbott Laboratories
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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