Bank of New York Mellon Corp Acquires 30,097 Shares of Abbott Laboratories (NYSE:ABT)

Bank of New York Mellon Corp raised its holdings in Abbott Laboratories (NYSE:ABT) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,592,496 shares of the healthcare product maker’s stock after purchasing an additional 30,097 shares during the quarter. Bank of New York Mellon Corp’s holdings in Abbott Laboratories were worth $1,537,447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABT. J.W. Cole Advisors Inc. lifted its position in shares of Abbott Laboratories by 1.0% during the third quarter. J.W. Cole Advisors Inc. now owns 23,937 shares of the healthcare product maker’s stock worth $2,729,000 after purchasing an additional 235 shares in the last quarter. Insight Folios Inc raised its position in Abbott Laboratories by 3.3% in the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after purchasing an additional 87 shares during the last quarter. Hibernia Wealth Partners LLC acquired a new position in Abbott Laboratories during the 3rd quarter worth $204,000. Smithbridge Asset Management Inc. DE boosted its position in Abbott Laboratories by 2.5% in the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 40,368 shares of the healthcare product maker’s stock valued at $4,602,000 after buying an additional 971 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Abbott Laboratories by 6.5% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 18,345 shares of the healthcare product maker’s stock worth $2,091,000 after acquiring an additional 1,121 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ABT shares. Evercore ISI raised their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. UBS Group boosted their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Down 0.1 %

Shares of Abbott Laboratories stock opened at $134.81 on Tuesday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $136.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The business’s 50 day simple moving average is $121.20 and its 200 day simple moving average is $117.11. The firm has a market cap of $233.82 billion, a PE ratio of 17.62, a P/E/G ratio of 2.52 and a beta of 0.74.

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, hitting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 earnings per share. On average, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is currently 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.