Wellington Management Group LLP Has $2.99 Billion Stock Position in Abbott Laboratories (NYSE:ABT)

Wellington Management Group LLP grew its position in shares of Abbott Laboratories (NYSE:ABT) by 2.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,392,302 shares of the healthcare product maker’s stock after buying an additional 581,325 shares during the quarter. Wellington Management Group LLP’s holdings in Abbott Laboratories were worth $2,985,233,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Groupama Asset Managment boosted its stake in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares in the last quarter. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the 4th quarter worth about $26,000. NewSquare Capital LLC grew its holdings in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after acquiring an additional 105 shares during the last quarter. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ABT shares. Stifel Nicolaus boosted their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company upped their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. UBS Group raised their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays restated an “overweight” rating and issued a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.94.

Abbott Laboratories Trading Down 0.4 %

Shares of NYSE:ABT opened at $130.81 on Monday. The company has a market capitalization of $226.87 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.52 and a beta of 0.70. 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 business’s 50 day simple moving average is $130.05 and its 200 day simple moving average is $120.39. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter last year, the business earned $1.19 earnings per share. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. On average, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the transaction, the executive vice president now owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This represents a 1.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock valued at $15,463,316 over the last ninety days. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories 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.