Norden Group LLC Trims Stake in Abbott Laboratories $ABT

Norden Group LLC lowered its position in Abbott Laboratories (NYSE:ABT) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,039 shares of the healthcare product maker’s stock after selling 5,824 shares during the period. Norden Group LLC’s holdings in Abbott Laboratories were worth $4,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Carr Financial Group Corp increased its stake in Abbott Laboratories by 2.0% in the third quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock worth $520,000 after purchasing an additional 76 shares during the period. Tortoise Investment Management LLC grew its holdings in shares of Abbott Laboratories by 10.7% in the second quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after purchasing an additional 77 shares during the last quarter. FF Advisors LLC increased its stake in Abbott Laboratories by 4.3% in the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after buying an additional 79 shares during the period. Charles Schwab Trust Co lifted its holdings in Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after buying an additional 79 shares in the last quarter. Finally, Bridgewater Advisors Inc. boosted its position in Abbott Laboratories by 0.6% in the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after buying an additional 79 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $124.79 on Thursday. The stock’s 50-day moving average is $126.38 and its 200 day moving average is $130.06. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. 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 $216.99 billion, a P/E ratio of 15.64, a PEG ratio of 2.27 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The business had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’s 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. Research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

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

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research reports. BTIG Research reaffirmed a “buy” rating and set a $145.00 target price on shares of Abbott Laboratories in a research report on Thursday, November 20th. Daiwa Capital Markets raised their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Sanford C. Bernstein upped their target price on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Company 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.