Frank Rimerman Advisors LLC Acquires 5,869 Shares of Abbott Laboratories $ABT

Frank Rimerman Advisors LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 33.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,311 shares of the healthcare product maker’s stock after acquiring an additional 5,869 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Abbott Laboratories were worth $3,171,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ABT. Nuveen LLC bought a new stake in Abbott Laboratories during the first quarter worth approximately $1,658,180,000. Goldman Sachs Group Inc. lifted its stake in shares of Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after buying an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after buying an additional 3,371,113 shares during the period. TD Asset Management Inc grew its stake in Abbott Laboratories by 98.6% in the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after buying an additional 1,721,523 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Abbott Laboratories by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock worth $5,184,589,000 after acquiring an additional 1,390,554 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Daiwa Capital Markets upped their price target on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Mizuho raised their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Performance

ABT opened at $130.29 on Tuesday. The stock’s 50 day simple moving average is $130.34 and its 200-day simple moving average is $131.35. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a market cap of $226.55 billion, a PE ratio of 16.33, a P/E/G ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, October 15th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

Abbott Laboratories Company Profile

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.