USA Financial Formulas Reduces Stock Position in Abbott Laboratories $ABT

USA Financial Formulas decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 91.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 971 shares of the healthcare product maker’s stock after selling 10,060 shares during the quarter. USA Financial Formulas’ holdings in Abbott Laboratories were worth $130,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. boosted its position in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Anfield Capital Management LLC raised its stake in Abbott Laboratories by 81.3% during the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $32,000 after purchasing an additional 104 shares during the period. Delos Wealth Advisors LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at about $32,000. Curio Wealth LLC grew its stake in shares of Abbott Laboratories by 15,250.0% in the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after buying an additional 305 shares during the period. Finally, Pineridge Advisors LLC increased its holdings in shares of Abbott Laboratories by 34.6% during the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after buying an additional 81 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

NYSE ABT opened at $125.45 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The company has a market cap of $218.13 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.29 and a beta of 0.72. The stock has a 50-day moving average of $126.77 and a two-hundred day moving average of $130.23. 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 data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. The Goldman Sachs Group increased their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Evercore ISI reduced their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Mizuho boosted their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.