PGGM Investments Raises Stake in Abbott Laboratories (NYSE:ABT)

PGGM Investments increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 679,985 shares of the healthcare product maker’s stock after buying an additional 21,475 shares during the period. Abbott Laboratories comprises about 1.0% of PGGM Investments’ holdings, making the stock its 27th biggest position. PGGM Investments’ holdings in Abbott Laboratories were worth $76,913,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ABT. Impax Asset Management Group plc lifted its stake in Abbott Laboratories by 0.5% in the third quarter. Impax Asset Management Group plc now owns 557,608 shares of the healthcare product maker’s stock valued at $63,573,000 after purchasing an additional 2,754 shares during the last quarter. United Bank raised its stake in shares of Abbott Laboratories by 1.8% in the third quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock valued at $3,111,000 after buying an additional 488 shares during the period. Versor Investments LP purchased a new stake in shares of Abbott Laboratories during the 3rd quarter valued at approximately $651,000. Verus Capital Partners LLC boosted its holdings in Abbott Laboratories by 7.5% in the 3rd quarter. Verus Capital Partners LLC now owns 5,705 shares of the healthcare product maker’s stock worth $650,000 after buying an additional 400 shares during the period. Finally, Dillon & Associates Inc. grew its stake in Abbott Laboratories by 2.1% in the 3rd quarter. Dillon & Associates Inc. now owns 210,347 shares of the healthcare product maker’s stock valued at $23,980,000 after buying an additional 4,364 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABT. Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Evercore ISI raised their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. UBS Group lifted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Insider Activity

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the sale, the executive vice president now owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares in the company, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,449 shares of company stock valued at $15,463,316. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Down 1.8 %

Shares of NYSE:ABT opened at $130.29 on Thursday. The firm has a market capitalization of $225.97 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The firm has a fifty day moving average of $126.57 and a 200 day moving average of $119.21.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.81%. Abbott Laboratories’s payout ratio is 30.85%.

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.