Norden Group LLC Decreases Stock Holdings in Abbott Laboratories $ABT

Norden Group LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 15.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,039 shares of the healthcare product maker’s stock after selling 5,824 shares during the quarter. Norden Group LLC’s holdings in Abbott Laboratories were worth $4,291,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Abbott Laboratories by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock worth $23,502,644,000 after buying an additional 2,977,715 shares during the last quarter. State Street Corp lifted its holdings in Abbott Laboratories by 0.9% in the second quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker’s stock valued at $10,656,964,000 after acquiring an additional 689,517 shares during the period. Geode Capital Management LLC boosted its position in Abbott Laboratories by 3.8% in the second quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock worth $5,184,589,000 after purchasing an additional 1,390,554 shares during the last quarter. Norges Bank purchased a new stake in shares of Abbott Laboratories during the 2nd quarter valued at about $3,026,180,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Abbott Laboratories by 0.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,177,029 shares of the healthcare product maker’s stock worth $1,792,209,000 after purchasing an additional 68,613 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABT has been the subject of several recent research reports. Sanford C. Bernstein boosted their target price 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. BTIG Research reissued a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research report on Thursday, November 20th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a report on Thursday, November 20th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Mizuho raised their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Two 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Trading Up 0.2%

ABT stock opened at $124.79 on Thursday. The company has a market capitalization of $216.99 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 2.27 and a beta of 0.72. The business has a 50 day simple moving average of $126.38 and a two-hundred day simple moving average of $130.06. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. 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 announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the company earned $1.21 EPS. 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. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

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

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.