Beutel Goodman & Co Ltd. Has $3.75 Million Stock Holdings in Abbott Laboratories $ABT

Beutel Goodman & Co Ltd. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 20.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,600 shares of the healthcare product maker’s stock after selling 7,198 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in Abbott Laboratories were worth $3,753,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC increased its holdings in shares of Abbott Laboratories by 10.7% during the second quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after buying an additional 77 shares in the last quarter. FF Advisors LLC grew its position in Abbott Laboratories by 4.3% during the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after acquiring an additional 79 shares during the last quarter. Charles Schwab Trust Co raised its position in Abbott Laboratories by 0.6% in the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after purchasing an additional 79 shares during the last quarter. Bridgewater Advisors Inc. boosted its stake in Abbott Laboratories by 0.6% in the second quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock worth $1,607,000 after purchasing an additional 79 shares in the last quarter. Finally, Lcnb Corp grew its holdings in shares of Abbott Laboratories by 0.5% during the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock worth $2,111,000 after purchasing an additional 80 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.1%

ABT opened at $125.39 on Friday. The firm has a 50 day simple moving average of $128.71 and a 200 day simple moving average of $130.90. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a market cap of $218.04 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.28 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24.

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

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were paid a $0.59 dividend. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a report on Thursday, November 20th. Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Daiwa Capital Markets increased their price target on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Sanford C. Bernstein raised their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Mizuho upped their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Two equities research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.00.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.