TD Asset Management Inc Boosts Stock Position in Abbott Laboratories $ABT

TD Asset Management Inc raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 98.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,467,896 shares of the healthcare product maker’s stock after acquiring an additional 1,721,523 shares during the period. TD Asset Management Inc owned approximately 0.20% of Abbott Laboratories worth $471,669,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in Abbott Laboratories during the 1st quarter worth approximately $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $28,000. Elequin Capital LP acquired a new stake in Abbott Laboratories during the 1st quarter valued at $30,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories during the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC acquired a new stake in Abbott Laboratories during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ABT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Morgan Stanley raised their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Benchmark started coverage on Abbott Laboratories in a report on Friday. They set a “buy” rating and a $145.00 price objective on the stock. Finally, Mizuho raised their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $146.17.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $131.52 on Tuesday. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The stock has a market capitalization of $228.90 billion, a P/E ratio of 16.48, a PEG ratio of 2.51 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average price is $132.57 and its 200 day moving average price is $131.60.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts’ consensus estimates of $1.26. The company 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 firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

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.