Capital International Investors Raises Stock Holdings in Abbott Laboratories (NYSE:ABT)

Capital International Investors boosted its holdings in Abbott Laboratories (NYSE:ABT) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,327,202 shares of the healthcare product maker’s stock after purchasing an additional 1,328,056 shares during the period. Abbott Laboratories comprises 1.4% of Capital International Investors’ portfolio, making the stock its 12th largest position. Capital International Investors owned 2.68% of Abbott Laboratories worth $4,110,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Polen Capital Management LLC raised its stake in Abbott Laboratories by 7,236.6% during the fourth quarter. Polen Capital Management LLC now owns 8,924,157 shares of the healthcare product maker’s stock valued at $775,152,000 after buying an additional 8,802,518 shares in the last quarter. Wealth Quarterback LLC acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $282,410,000. State Street Corp raised its stake in Abbott Laboratories by 1.3% during the fourth quarter. State Street Corp now owns 73,555,650 shares of the healthcare product maker’s stock valued at $6,389,044,000 after buying an additional 978,575 shares in the last quarter. GQG Partners LLC raised its stake in Abbott Laboratories by 9.0% during the fourth quarter. GQG Partners LLC now owns 7,524,302 shares of the healthcare product maker’s stock valued at $653,756,000 after buying an additional 619,440 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in Abbott Laboratories by 0.5% during the fourth quarter. Capital Research Global Investors now owns 113,689,293 shares of the healthcare product maker’s stock valued at $9,875,052,000 after buying an additional 616,255 shares in the last quarter. 75.02% of the stock is owned by hedge funds and other institutional investors.

Shares of Abbott Laboratories stock traded up $4.20 on Thursday, reaching $74.95. 3,084,865 shares of the company were exchanged, compared to its average volume of 12,224,732. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.04 and a current ratio of 1.44. The company’s 50-day moving average is $81.95 and its two-hundred day moving average is $84.07. The firm has a market cap of $122.89 billion, a price-to-earnings ratio of 36.38, a P/E/G ratio of 1.83 and a beta of 1.17. Abbott Laboratories has a 1-year low of $61.61 and a 1-year high of $92.45.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. Abbott Laboratories had a return on equity of 18.39% and a net margin of 11.56%. The firm had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.26 billion. During the same period last year, the firm earned $0.81 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Abbott Laboratories will post 3.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be given a $0.36 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.08. This represents a $1.44 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, April 14th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

ABT has been the topic of several research reports. UBS Group upped their price objective on Abbott Laboratories from $99.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Credit Suisse Group dropped their price target on Abbott Laboratories from $104.00 to $94.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Evercore ISI cut Abbott Laboratories from an “outperform” rating to an “in-line” rating in a research report on Thursday, January 2nd. Goldman Sachs Group began coverage on Abbott Laboratories in a research report on Wednesday, February 12th. They set a “neutral” rating and a $96.00 price target on the stock. Finally, BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $96.13.

In related news, SVP Jared Watkin sold 8,248 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $82.00, for a total value of $676,336.00. Following the sale, the senior vice president now directly owns 68,696 shares in the company, valued at approximately $5,633,072. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Philip P. Boudreau sold 10,600 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $82.00, for a total value of $869,200.00. Following the completion of the sale, the vice president now owns 22,463 shares in the company, valued at $1,841,966. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 568,733 shares of company stock worth $50,878,762. 1.70% of the stock is owned by insiders.

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.

Read More: What is Cost of Capital?

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.