Abbott Laboratories $ABT Shares Sold by USA Financial Formulas

USA Financial Formulas decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 91.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 971 shares of the healthcare product maker’s stock after selling 10,060 shares during the quarter. USA Financial Formulas’ holdings in Abbott Laboratories were worth $130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avanza Fonder AB raised its stake in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after buying an additional 655 shares during the last quarter. Charles Schwab Trust Co grew its holdings in Abbott Laboratories by 109.8% during the third quarter. Charles Schwab Trust Co now owns 29,412 shares of the healthcare product maker’s stock worth $3,939,000 after acquiring an additional 15,394 shares during the period. Seaview Investment Managers LLC purchased a new position in Abbott Laboratories during the second quarter valued at approximately $11,068,000. Guggenheim Capital LLC lifted its holdings in Abbott Laboratories by 13.5% in the second quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock valued at $13,457,000 after acquiring an additional 11,794 shares during the period. Finally, Vest Financial LLC boosted its position in Abbott Laboratories by 12.1% in the 2nd quarter. Vest Financial LLC now owns 592,300 shares of the healthcare product maker’s stock worth $80,559,000 after purchasing an additional 63,811 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ABT. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. BTIG Research restated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research note on Thursday, November 20th. The Goldman Sachs Group increased their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Finally, Raymond James Financial boosted their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Price Performance

NYSE:ABT opened at $125.45 on Monday. The stock has a 50 day moving average of $126.77 and a two-hundred day moving average of $130.23. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The firm has a market cap of $218.13 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 2.29 and a beta of 0.72. 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 earnings results 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 return on equity of 17.60% and a net margin of 31.88%.The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter last year, the business posted $1.21 earnings per share. The business’s quarterly revenue 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. On average, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced 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. 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. 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.