VeraBank N.A. Has $2.75 Million Stake in Abbott Laboratories $ABT

VeraBank N.A. raised its holdings in Abbott Laboratories (NYSE:ABT) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,244 shares of the healthcare product maker’s stock after acquiring an additional 810 shares during the quarter. Abbott Laboratories comprises 0.6% of VeraBank N.A.’s portfolio, making the stock its 28th largest position. VeraBank N.A.’s holdings in Abbott Laboratories were worth $2,753,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $1,658,180,000. Goldman Sachs Group Inc. increased its holdings in shares of Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after acquiring an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after purchasing an additional 3,371,113 shares during the period. TD Asset Management Inc grew its position in shares of Abbott Laboratories by 98.6% in the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after purchasing an additional 1,721,523 shares during the period. Finally, Massachusetts Financial Services Co. MA raised 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 period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Down 0.4%

Abbott Laboratories stock opened at $125.88 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock has a 50-day simple moving average of $130.65 and a 200 day simple moving average of $131.39. The stock has a market capitalization of $218.89 billion, a P/E ratio of 15.77, a PEG ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

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

Abbott Laboratories Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ABT. Raymond James Financial upped their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. The Goldman Sachs Group lifted their price objective 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. Evercore ISI reduced their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. BTIG Research reiterated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Finally, Daiwa Capital Markets raised their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock 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.