MAI Capital Management Has $65.50 Million Position in Abbott Laboratories $ABT

MAI Capital Management lifted its holdings in Abbott Laboratories (NYSE:ABT) by 6.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 481,563 shares of the healthcare product maker’s stock after acquiring an additional 27,966 shares during the quarter. MAI Capital Management’s holdings in Abbott Laboratories were worth $65,497,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tortoise Investment Management LLC increased its holdings in shares of Abbott Laboratories by 10.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock valued at $108,000 after purchasing an additional 77 shares during the period. FF Advisors LLC grew its position in Abbott Laboratories by 4.3% during the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after purchasing an additional 79 shares in the last quarter. Charles Schwab Trust Co increased its stake 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 buying an additional 79 shares during the period. Bridgewater Advisors Inc. boosted its stake in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after buying an additional 79 shares during the period. Finally, Opes Wealth Management LLC grew its holdings in shares of Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after acquiring an additional 80 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABT. Daiwa Capital Markets lifted their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Raymond James Financial lifted their price target on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Benchmark started coverage on Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective on the stock. Jefferies Financial Group lifted 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. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Down 1.7%

Abbott Laboratories stock opened at $124.01 on Friday. The firm has a market cap of $215.64 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 2.36 and a beta of 0.68. The firm has a fifty day moving average price of $130.06 and a two-hundred day moving average price of $131.25. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

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

Abbott Laboratories Announces Dividend

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