Abbott Laboratories (NYSE:ABT) Shares Acquired by Baldwin Investment Management LLC

Baldwin Investment Management LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,455 shares of the healthcare product maker’s stock after acquiring an additional 1,711 shares during the period. Abbott Laboratories comprises approximately 0.6% of Baldwin Investment Management LLC’s holdings, making the stock its 19th largest holding. Baldwin Investment Management LLC’s holdings in Abbott Laboratories were worth $4,968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors raised its position in shares of 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. Capital Research Global Investors raised its position in shares of Abbott Laboratories by 1.5% during the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock valued at $6,118,903,000 after acquiring an additional 795,073 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Abbott Laboratories by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock valued at $4,023,027,000 after acquiring an additional 765,636 shares in the last quarter. Wellington Management Group LLP increased its position in Abbott Laboratories by 2.3% in the fourth quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock worth $2,985,233,000 after buying an additional 581,325 shares during the period. Finally, Northern Trust Corp increased its position in Abbott Laboratories by 10.3% in the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker’s stock worth $2,494,851,000 after buying an additional 2,060,650 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley increased their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Evercore ISI increased their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Barclays increased their target price on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. BTIG Research dropped their target price on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Finally, Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $144.47.

Abbott Laboratories Trading Up 0.7%

NYSE:ABT opened at $126.53 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 1-year low of $99.92 and a 1-year high of $141.23. The firm has a market capitalization of $220.15 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The stock has a fifty day simple moving average of $132.39 and a 200 day simple moving average of $130.10.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. Sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm 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 $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Insider Transactions at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.