Flossbach Von Storch SE Cuts Stake in Abbott Laboratories $ABT

Flossbach Von Storch SE trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,422,870 shares of the healthcare product maker’s stock after selling 528,626 shares during the quarter. Abbott Laboratories makes up about 3.6% of Flossbach Von Storch SE’s portfolio, making the stock its 10th biggest position. Flossbach Von Storch SE owned 0.37% of Abbott Laboratories worth $873,575,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. IMG Wealth Management Inc. grew its holdings in shares of Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories in the 1st quarter valued at about $27,000. Elequin Capital LP bought a new position in Abbott Laboratories in the 1st quarter worth about $30,000. Vision Financial Markets LLC purchased a new position in shares of Abbott Laboratories during the first quarter worth approximately $33,000. Finally, Accent Capital Management LLC bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $38,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $126.28 on Friday. The company has a market capitalization of $219.59 billion, a PE ratio of 15.82, a P/E/G ratio of 2.36 and a beta of 0.68. The company has a 50-day simple moving average of $130.78 and a two-hundred day simple moving average of $131.40. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. 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 (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. The firm 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%. During the same quarter in the previous year, the firm earned $1.21 EPS. The company’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. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Jefferies Financial Group raised their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” 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 for the company in a research note on Wednesday, October 15th. Daiwa Capital Markets increased their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.00.

About Abbott Laboratories

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.