Abbott Laboratories $ABT Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 5.1% during the third quarter, Holdings Channel reports. The institutional investor owned 789,908 shares of the healthcare product maker’s stock after selling 42,211 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Abbott Laboratories were worth $105,800,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ABT. Charles Schwab Trust Co lifted its holdings in shares of Abbott Laboratories by 109.8% in the 3rd quarter. Charles Schwab Trust Co now owns 29,412 shares of the healthcare product maker’s stock valued at $3,939,000 after buying an additional 15,394 shares during the period. Avanza Fonder AB lifted its holdings in Abbott Laboratories by 0.4% in the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after acquiring an additional 655 shares during the period. Seaview Investment Managers LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth $11,068,000. Guggenheim Capital LLC increased its holdings in shares of Abbott Laboratories by 13.5% in the 2nd quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock valued at $13,457,000 after purchasing an additional 11,794 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Abbott Laboratories by 2.4% in the third quarter. Asset Management One Co. Ltd. now owns 858,834 shares of the healthcare product maker’s stock valued at $115,032,000 after purchasing an additional 19,966 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday, December 29th. Sanford C. Bernstein boosted their target price on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Mizuho raised their price target on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Barclays lifted their price target on Abbott Laboratories from $162.00 to $169.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Raymond James Financial raised their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.37.

Abbott Laboratories Stock Up 1.8%

Shares of NYSE ABT opened at $126.43 on Tuesday. The firm has a market cap of $219.84 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 2.06 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 has a 1 year low of $110.86 and a 1 year high of $141.23. The firm’s 50 day moving average price is $125.97 and its 200 day moving average price is $129.54.

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

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s payout ratio is currently 29.57%.

Abbott Laboratories Company Profile

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.