Abbott Laboratories $ABT Shares Sold by Covea Finance

Covea Finance cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 355,054 shares of the healthcare product maker’s stock after selling 30,200 shares during the period. Abbott Laboratories makes up about 1.7% of Covea Finance’s investment portfolio, making the stock its 14th largest holding. Covea Finance’s holdings in Abbott Laboratories were worth $47,556,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. raised its position in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares in the last quarter. Anfield Capital Management LLC boosted its stake in Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Delos Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at $32,000. Curio Wealth LLC lifted its holdings in shares of Abbott Laboratories by 15,250.0% in the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after buying an additional 305 shares during the period. Finally, Pineridge Advisors LLC boosted its stake in Abbott Laboratories by 34.6% during the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT stock opened at $124.79 on Friday. The firm has a 50 day simple moving average of $126.33 and a 200 day simple moving average of $130.03. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The stock has a market cap of $216.99 billion, a P/E ratio of 15.64, a P/E/G ratio of 2.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ABT. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. The Goldman Sachs Group boosted their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Daiwa Capital Markets increased their price target on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Raymond James Financial upped their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Mizuho lifted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.