BlackRock Fund Advisors recently announced the acquisition of new stake in Abbott Laboratories (NYSE:ABT). The institutional investor has increased its shareholding in the Healthcare company by 1.96% to 89.35 million shares with purchase of 1.72 million shares. This fresh investment now brings its stake to 5.15% valued currently at $9.32 billion. In addition, Capital Research & Management Co raised its holdings by 1.84 million to 79.06 million shares. And Capital Research & Management Co has lifted its position by 6.18% or 3.66 million shares – to 62.84 million shares.
Currently, there are 1.74B common shares owned by the public and among those 1.72B shares have been available to trade.
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Insiders at the company have transacted a total of 95 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 39 of these insider trades were purchases, accounting for 388,626 shares. Insider sales of the common stock occurred on 56 occasions, with total insider shares sold totaling 348,131 shares.
The top 3 mutual fund holders in Abbott Laboratories are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and American Funds Investment Company. Vanguard Total Stock Market ETF owns 54.33 million shares of the company’s stock, all valued at over $5.67 billion. The company bought an additional 0.25 million shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 0.19 million shares to see its total holdings expand to 41.9 million shares valued at over $4.37 billion and representing 2.41% of the shares outstanding. American Funds Investment Company sold 41210.0 shares to bring its total holdings to over 22.63 million shares at a value of $2.36 billion. American Funds Investment Company now owns shares totaling to 1.30% of the shares outstanding.
However, the script later moved the day high at 108.71, up 0.33%. The company’s stock has a 5-day price change of 1.63% and 8.12% over the past three months. ABT shares are trading -1.25% year to date (YTD), with the 12-month market performance up to 1.41% higher. It has a 12-month low price of $89.67 and touched a high of $115.83 over the same period. ABT has an average intraday trading volume of 6.11 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.58%, 9.70%, and 5.17% respectively.
Institutional ownership of Abbott Laboratories (NYSE: ABT) shares accounts for 75.85% of the company’s 1.74B shares outstanding. Mutual fund holders own 4.27%, while other institutional holders and individual stakeholders account for 42.09% and 33.94% respectively.
It has a market capitalization of $188.22B and a beta (3y monthly) value of 0.72. The stock’s trailing 12-month PE ratio is 36.84, while the earnings-per-share (ttm) stands at $2.94. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.42% over the week and 1.37% over the month.
Analysts forecast that Abbott Laboratories (ABT) will achieve an EPS of $1.19 for the current quarter, $1.01 for the next quarter and $4.63 for 2024. The lowest estimate earnings-per-share for the quarter is $1.18 while analysts give the company a high EPS estimate of $1.2. Comparatively, EPS for the current quarter was $1.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -16.91%, and 4.12% over the next financial year. EPS should shrink at an annualized rate of -2.00% over the next five years, compared to 71.02% over the past 5-year period.
