Thurston Springer Miller Herd & Titak Inc. Sells 34,608 Shares of Abbott Laboratories $ABT

Thurston Springer Miller Herd & Titak Inc. trimmed its position in Abbott Laboratories (NYSE:ABT) by 91.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,208 shares of the healthcare product maker’s stock after selling 34,608 shares during the quarter. Abbott Laboratories makes up 0.9% of Thurston Springer Miller Herd & Titak Inc.’s holdings, making the stock its 14th largest position. Thurston Springer Miller Herd & Titak Inc.’s holdings in Abbott Laboratories were worth $430,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Abbott Laboratories by 1.8% in the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after buying an additional 2,977,715 shares during the last quarter. State Street Corp raised its stake in Abbott Laboratories by 0.9% in the 2nd quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker’s stock valued at $10,656,964,000 after acquiring an additional 689,517 shares during the period. Geode Capital Management LLC lifted its holdings in Abbott Laboratories by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock valued at $5,184,589,000 after purchasing an additional 1,390,554 shares during the last quarter. Norges Bank bought a new position in Abbott Laboratories during the second quarter worth $3,026,180,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Abbott Laboratories by 0.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,177,029 shares of the healthcare product maker’s stock worth $1,792,209,000 after buying an additional 68,613 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Sanford C. Bernstein upped their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Jefferies Financial Group lifted their target price on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Evercore ISI decreased their price target on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Finally, Daiwa Capital Markets raised their price target on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Performance

NYSE ABT opened at $126.96 on Wednesday. The firm’s 50 day simple moving average is $127.23 and its 200 day simple moving average is $130.39. The firm has a market capitalization of $220.76 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.34 and a beta of 0.72. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

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. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio is 29.57%.

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.