Abbott Laboratories (NYSE:ABT).
Capital Research Global Investors raised its ownership in Abbott Laboratories stock by 20,271,463 shares in the quarter ending 09/30/2017. Its investment stood at $3,621,070,000 an increase of 56.5% according to the filing.
These firms have modified their investment in ABT. As of the end of the quarter Henderson Group Plc had bought a total of 8,126,577 shares growing its stake by 3,585.1%. The value of the investment in ABT went from $10,070,000 to $445,731,000 a change of $435,661,000 quarter over quarter. Tiaa Cref Investment Management LLC divested its stake by selling 360,175 shares a decrease of 3.2% as of 09/30/2017. Tiaa Cref Investment Management LLC controls 10,949,226 shares with a value of $584,251,000. The total value of its holdings increased 6.3%.
As of quarter end Primecap Management Co/ca/ had disposed of 177,860 shares trimming its position 1.2%. The value of the total investment in Abbott Laboratories increased from $723,482,000 to $784,688,000 increasing 8.5% quarter to quarter.
Cowen and Company updated coverage of ABT and giving a rating of “Buy” and projecting a price target of $68.00. October 19 investment analysts at Citigroup kept a “Neutral” rating on the company.
Equity analyst Stifel Nicolaus raised the price target of the stock on October 19 changing the price objective from $58.00 to $63.00 and stated a “Buy” rating. On October 19, 2017 Barclays PLC reiterated a “Overweight” rating on the company.
On October 19 Jefferies Group LLC maintained a stock rating of “Buy” projecting a price of $65.00. October 19 investment analysts at BMO Capital Markets reiterated a “Market Perform” rating on the stock.
The company is trading up since yesterday’s close of 54.83. Abbott Laboratories currently has a P/E ratio of 45.56 and the market cap of the company is 96.19B. As of the latest earnings report the EPS was $1.21 with 1.74B shares now outstanding.
Investors are feeling more bullish on shares of Abbott Laboratories if you take into consideration the decrease in short interest. The company had a fall in short interest from October 13, 2017 to October 31, 2017 of -7.87%. Short interest fell 1,033,718 over that period. Days to cover decreased -1.0 to 2.0 and the percentage of shorted shares was 0.01% on October 31.