CX Institutional Boosts Holdings in Abbott Laboratories $ABT

CX Institutional boosted its holdings in Abbott Laboratories (NYSE:ABT) by 17.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,275 shares of the healthcare product maker’s stock after purchasing an additional 4,310 shares during the quarter. CX Institutional’s holdings in Abbott Laboratories were worth $3,921,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms recently commented on ABT. Evercore ISI lifted their price target on Abbott Laboratories from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday. Daiwa Capital Markets lifted their target price on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. The Goldman Sachs Group increased their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. Finally, Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.47.

Abbott Laboratories Trading Down 0.6%

NYSE ABT opened at $127.06 on Thursday. The stock has a market cap of $220.94 billion, a PE ratio of 15.92, a PEG ratio of 2.12 and a beta of 0.72. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company’s 50-day moving average price is $126.05 and its 200-day moving average price is $129.49. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23.

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

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be given a dividend of $0.63 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. Abbott Laboratories’s dividend payout ratio is presently 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.