55,800 Shares in Abbott Laboratories (NYSE:ABT) Purchased by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC bought a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, HoldingsChannel.com reports. The firm bought 55,800 shares of the healthcare product maker’s stock, valued at approximately $6,312,000. Abbott Laboratories accounts for about 2.8% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 11th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of ABT. Massachusetts Financial Services Co. MA boosted its holdings in shares of Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after buying an additional 2,711,586 shares during the period. Sessa Capital IM L.P. acquired a new position in Abbott Laboratories in the 2nd quarter worth approximately $264,876,000. State Street Corp grew its position in Abbott Laboratories by 3.1% during the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Abbott Laboratories by 13,194.9% during the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after buying an additional 1,667,170 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Abbott Laboratories by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock valued at $1,144,818,000 after acquiring an additional 1,180,040 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT opened at $123.17 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market capitalization of $213.62 billion, a price-to-earnings ratio of 37.44, a P/E/G ratio of 2.50 and a beta of 0.73. The business’s 50-day moving average price is $114.91 and its two-hundred day moving average price is $113.08. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $123.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11,029,400 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. Equities analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.92%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABT. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Barclays lifted their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler lifted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

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.