Pinnacle Wealth Planning Services Inc. Grows Position in Abbott Laboratories $ABT

Pinnacle Wealth Planning Services Inc. grew its position in shares of Abbott Laboratories (NYSE:ABT) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,405 shares of the healthcare product maker’s stock after acquiring an additional 1,315 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Abbott Laboratories were worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Nuveen LLC bought a new stake in Abbott Laboratories in the 1st quarter worth about $1,658,180,000. Goldman Sachs Group Inc. grew its holdings 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 valued at $2,120,516,000 after acquiring an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after acquiring an additional 3,371,113 shares during the last quarter. TD Asset Management Inc lifted its holdings in Abbott Laboratories by 98.6% during the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after acquiring an additional 1,721,523 shares during the period. Finally, Geode Capital Management LLC grew its stake 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 valued at $5,184,589,000 after purchasing an additional 1,390,554 shares during the period. 75.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Evercore ISI lowered their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Mizuho boosted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. The Goldman Sachs Group raised their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Daiwa Capital Markets upped their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Two equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Down 0.2%

Shares of NYSE ABT opened at $130.29 on Tuesday. 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 business has a 50-day moving average of $130.34 and a 200-day moving average of $131.35. The firm has a market capitalization of $226.55 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results 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 net margin of 31.88% and a return on equity of 17.78%. The business had revenue of $11.37 billion during 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. Sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Abbott Laboratories 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.