Abbott Laboratories $ABT is Prairie Sky Financial Group LLC’s 3rd Largest Position

Prairie Sky Financial Group LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 6.2% in the second quarter, HoldingsChannel reports. The firm owned 102,036 shares of the healthcare product maker’s stock after acquiring an additional 5,931 shares during the quarter. Abbott Laboratories makes up about 7.6% of Prairie Sky Financial Group LLC’s investment portfolio, making the stock its 3rd biggest position. Prairie Sky Financial Group LLC’s holdings in Abbott Laboratories were worth $13,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Abbott Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock valued at $22,527,039,000 after purchasing an additional 1,177,739 shares during the period. Wellington Management Group LLP lifted its holdings in 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 last quarter. Goldman Sachs Group Inc. lifted its holdings in Abbott Laboratories by 29.2% during the 1st 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. Massachusetts Financial Services Co. MA lifted its holdings in Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after buying an additional 1,639,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Abbott Laboratories by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock worth $1,738,831,000 after buying an additional 168,095 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Benchmark initiated coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company. Evercore ISI lifted their price target on Abbott Laboratories from $140.00 to $144.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Morgan Stanley lifted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Finally, Jefferies Financial Group raised Abbott Laboratories from a “hold” rating to a “buy” rating and lifted their price target for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.17.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Abbott Laboratories Stock Up 1.4%

ABT opened at $133.17 on Wednesday. The business’s 50-day simple moving average is $132.62 and its 200-day simple moving average is $131.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The stock has a market capitalization of $231.77 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 2.49 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts’ consensus estimates of $1.26. The business had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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