Abbott Laboratories (NYSE:ABT) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 67.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,682,769 shares of the healthcare product maker’s stock after acquiring an additional 1,076,142 shares during the quarter. Canada Pension Plan Investment Board owned about 0.15% of Abbott Laboratories worth $278,767,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Hanson & Doremus Investment Management increased its position in Abbott Laboratories by 0.8% during the 2nd quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock worth $1,160,000 after purchasing an additional 92 shares during the period. Encompass More Asset Management raised its position in Abbott Laboratories by 3.3% in the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock worth $312,000 after acquiring an additional 96 shares in the last quarter. Wynn Capital LLC lifted its holdings in Abbott Laboratories by 2.9% in the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock valued at $390,000 after acquiring an additional 98 shares during the period. Hummer Financial Advisory Services Inc boosted its position in shares of Abbott Laboratories by 1.2% during the 1st quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock worth $942,000 after purchasing an additional 100 shares in the last quarter. Finally, NORTHSTAR ASSET MANAGEMENT Co LLC grew its stake in shares of Abbott Laboratories by 1.9% during the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock worth $613,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ABT. Citigroup lifted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Barclays raised their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler began coverage on Abbott Laboratories in a report on Thursday. They issued an “overweight” rating and a $131.00 target price on the stock. Finally, Evercore ISI reduced their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.33.

Abbott Laboratories Price Performance

Shares of ABT opened at $114.15 on Friday. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock has a fifty day moving average price of $110.32 and a 200 day moving average price of $108.64. The company has a market cap of $198.58 billion, a P/E ratio of 35.56, a PEG ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period last year, the firm posted $1.08 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. On average, research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

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.