V. M. Manning & CO. Inc. Makes New $2.70 Million Investment in Abbott Laboratories $ABT

V. M. Manning & CO. Inc. purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,508 shares of the healthcare product maker’s stock, valued at approximately $2,704,000. Abbott Laboratories makes up about 2.4% of V. M. Manning & CO. Inc.’s investment portfolio, making the stock its 4th biggest position.

A number of other large investors have also recently bought and sold shares of ABT. Brighton Jones LLC increased its holdings in shares of Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after acquiring an additional 4,755 shares during the last quarter. Redwood Investment Management LLC bought a new stake in Abbott Laboratories during the first quarter worth approximately $394,000. CreativeOne Wealth LLC grew its holdings in Abbott Laboratories by 8.5% during the first quarter. CreativeOne Wealth LLC now owns 14,756 shares of the healthcare product maker’s stock valued at $1,957,000 after purchasing an additional 1,156 shares during the last quarter. Okabena Investment Services Inc. raised its position in shares of Abbott Laboratories by 990.5% in the first quarter. Okabena Investment Services Inc. now owns 36,269 shares of the healthcare product maker’s stock valued at $4,811,000 after purchasing an additional 32,943 shares during the period. Finally, Tema Etfs LLC acquired a new stake in shares of Abbott Laboratories in the first quarter worth $2,314,000. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday. The Goldman Sachs Group raised their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. 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. Mizuho lifted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Barclays upped their price target on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Trading Up 0.2%

Shares of ABT opened at $124.79 on Friday. The stock’s 50-day moving average price is $126.33 and its 200 day moving average price is $130.03. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $216.99 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 2.27 and a beta of 0.72. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. The company had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.Abbott Laboratories’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

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