Abbott Laboratories $ABT Shares Acquired by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE increased its holdings in Abbott Laboratories (NYSE:ABT) by 1.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 40,879 shares of the healthcare product maker’s stock after buying an additional 565 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Abbott Laboratories were worth $5,560,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in Abbott Laboratories by 6.6% during the 2nd quarter. Nordea Investment Management AB now owns 310,456 shares of the healthcare product maker’s stock valued at $41,921,000 after purchasing an additional 19,282 shares during the period. TFC Financial Management Inc. boosted its stake in Abbott Laboratories by 1.9% during the 2nd quarter. TFC Financial Management Inc. now owns 7,580 shares of the healthcare product maker’s stock valued at $1,031,000 after purchasing an additional 139 shares during the period. S Bank Fund Management Ltd acquired a new position in Abbott Laboratories during the 2nd quarter valued at about $4,701,000. Evernest Financial Advisors LLC boosted its stake in Abbott Laboratories by 21.5% during the 2nd quarter. Evernest Financial Advisors LLC now owns 6,035 shares of the healthcare product maker’s stock valued at $821,000 after purchasing an additional 1,067 shares during the period. Finally, Omnia Family Wealth LLC bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $221,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday. Raymond James Financial boosted their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Sanford C. Bernstein boosted their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.44.

Abbott Laboratories Stock Down 1.6%

NYSE ABT opened at $127.38 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The company’s 50 day simple moving average is $132.49 and its 200 day simple moving average is $131.56. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a market capitalization of $221.70 billion, a P/E ratio of 15.96, a PEG ratio of 2.46 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last released its earnings results 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 business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by company insiders.

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.