Amalgamated Bank Buys 3,877 Shares of Abbott Laboratories (NYSE:ABT)

Amalgamated Bank boosted its position in Abbott Laboratories (NYSE:ABT) by 1.2% during the 1st quarter, Holdings Channel reports. The fund owned 340,714 shares of the healthcare product maker’s stock after buying an additional 3,877 shares during the period. Amalgamated Bank’s holdings in Abbott Laboratories were worth $45,196,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Abbott Laboratories during the 4th quarter valued at about $2,373,461,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock valued at $945,453,000 after buying an additional 6,628,310 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Abbott Laboratories during the fourth quarter worth $635,056,000. GAMMA Investing LLC raised its position in Abbott Laboratories by 15,420.4% in the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock valued at $676,866,000 after buying an additional 5,069,771 shares during the last quarter. Finally, Capital International Investors lifted its stake in Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $134.40 on Monday. The company has a 50-day moving average price of $132.82 and a two-hundred day moving average price of $127.75. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $233.83 billion, a PE ratio of 17.43, a P/E/G ratio of 2.55 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.76%. Abbott Laboratories’s payout ratio is 30.61%.

Analysts Set New Price Targets

Several analysts have recently commented on ABT shares. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a report on Thursday, April 17th. Barclays increased their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Piper Sandler restated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Citigroup lifted their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Bank of America upped their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.61.

Abbott Laboratories Company Profile

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.