Fifth Third Bancorp Has $146.36 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Fifth Third Bancorp raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,293,982 shares of the healthcare product maker’s stock after buying an additional 171 shares during the quarter. Fifth Third Bancorp’s holdings in Abbott Laboratories were worth $146,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP grew its holdings in shares of Abbott Laboratories by 848.8% in the 2nd quarter. Marshall Wace LLP now owns 216,337 shares of the healthcare product maker’s stock worth $22,480,000 after purchasing an additional 193,537 shares during the last quarter. AQR Capital Management LLC grew its stake in Abbott Laboratories by 4.6% during the second quarter. AQR Capital Management LLC now owns 871,196 shares of the healthcare product maker’s stock worth $90,421,000 after buying an additional 38,676 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of Abbott Laboratories during the second quarter worth approximately $426,000. MBB Public Markets I LLC raised its stake in shares of Abbott Laboratories by 2,317.1% in the second quarter. MBB Public Markets I LLC now owns 123,296 shares of the healthcare product maker’s stock valued at $12,812,000 after acquiring an additional 118,195 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Abbott Laboratories by 13.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,654,712 shares of the healthcare product maker’s stock worth $483,673,000 after acquiring an additional 563,506 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Up 1.5 %

Shares of ABT stock opened at $125.12 on Friday. The stock has a 50 day simple moving average of $115.07 and a 200 day simple moving average of $113.15. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $125.67. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $217.01 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.

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. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11,029,400 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.19 earnings per share. On average, research analysts predict that Abbott Laboratories will post 5.15 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABT. Mizuho lifted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Evercore ISI upped their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Jefferies Financial Group upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Barclays lifted their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Raymond James reissued a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

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.