TFC Financial Management Inc. Boosts Stock Position in Abbott Laboratories $ABT

TFC Financial Management Inc. increased its holdings in Abbott Laboratories (NYSE:ABT) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,580 shares of the healthcare product maker’s stock after acquiring an additional 139 shares during the quarter. TFC Financial Management Inc.’s holdings in Abbott Laboratories were worth $1,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories in the first quarter worth $27,000. Abound Financial LLC purchased a new stake in Abbott Laboratories in the first quarter worth $28,000. Elequin Capital LP purchased a new stake in Abbott Laboratories in the first quarter worth $30,000. JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories in the first quarter worth $32,000. Finally, Vision Financial Markets LLC purchased a new stake in Abbott Laboratories in the first quarter worth $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories 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 completion of the transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

ABT opened at $127.38 on Friday. The stock has a 50-day moving average price of $132.49 and a 200-day moving average price of $131.56. 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 firm has a market cap of $221.70 billion, a PE ratio of 15.96, a P/E/G ratio of 2.46 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

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

Abbott Laboratories Announces Dividend

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

Analysts Set New Price Targets

ABT has been the subject of several recent research reports. Morgan Stanley raised their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Raymond James Financial raised their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday. Two 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.44.

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.