Legal & General Group Plc Raises Share Holdings in Abbott Laboratories (NYSE:ABT)

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Legal & General Group Plc boosted its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,347,452 shares of the medical products maker’s stock after purchasing an additional 10,506 shares during the period. Legal & General Group Plc owned about 0.82% of Abbott Laboratories worth $1,490,843,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Abbott Laboratories by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the medical products maker’s stock worth $17,222,332,000 after buying an additional 701,740 shares during the last quarter. Sanibel Captiva Trust Company Inc. purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at about $16,764,000. Garde Capital Inc. boosted its holdings in Abbott Laboratories by 16.4% in the fourth quarter. Garde Capital Inc. now owns 1,858 shares of the medical products maker’s stock worth $205,000 after buying an additional 262 shares in the last quarter. Sector Asset Management Inc. raised its position in Abbott Laboratories by 31.4% in the 4th quarter. Sector Asset Management Inc. now owns 68,998 shares of the medical products maker’s stock worth $7,595,000 after buying an additional 16,500 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Abbott Laboratories by 0.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the electronics maker’s stock. medical products valued at $98,490,000 after buying an additional 8,224 shares in the last quarter. Institutional investors own 75.18% of the company’s shares.

Abbott Laboratories trading rose 0.1%

Shares of Abbott Laboratories stock opened at $112.70 on Friday. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18, and a current ratio of 1.68. The company has a market cap of $196.06 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.86 and a beta of 0.72. The company has a fifty day moving average of $111.36 and a 200 day moving average of $108.42.

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Abbott Laboratories (NYSE:ABT – Get Free Report ) last issued its earnings results on Thursday, July 18th. The medical products maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. In the same quarter last year, the company posted earnings of $1.08 per share. The company’s revenue was up 4.0% year over year. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a dividend of $2.20 on an annualized basis and a dividend yield of 1.95%. Abbott Laboratories’ dividend payout ratio is 68.54%.

Analyst upgrades and downgrades

A number of analysts recently commented on ABT shares. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Piper Sandler began coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a report on Thursday. Finally, Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Moderate Buy” and an average price target of $124.00, according to MarketBeat.

Get the latest stock analysis on Abbott Laboratories

Insider work at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of shares are currently held by corporate insiders.

About Abbott Laboratories

(Free Report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures and sells health care products worldwide. It operates in four segments: Established Pharmaceuticals, Diagnostics, Nutritional Products and Medical Devices. The company provides generic pharmaceutical products for the treatment of exocrine pancreatic insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorders, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease, vestibular pain and inflammation. , and migraine, as well as offers the anti-infective clarithromycin, flu vaccine, and products to regulate the physiological rhythm of the colon.