V. M. Manning & CO. Inc. Acquires Shares of 20,508 Abbott Laboratories $ABT

V. M. Manning & CO. Inc. bought a new position in Abbott Laboratories (NYSE:ABT) in the third quarter, HoldingsChannel.com reports. The fund bought 20,508 shares of the healthcare product maker’s stock, valued at approximately $2,704,000. Abbott Laboratories makes up approximately 2.4% of V. M. Manning & CO. Inc.’s holdings, making the stock its 4th biggest holding.

Several other institutional investors have also bought and sold shares of the stock. IMG Wealth Management Inc. raised its stake in Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 167 shares in the last quarter. Anfield Capital Management LLC grew its holdings in shares of Abbott Laboratories by 81.3% in the 2nd 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 last quarter. Delos Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $32,000. Curio Wealth LLC lifted its holdings in Abbott Laboratories by 15,250.0% during the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after purchasing an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC boosted its position in Abbott Laboratories by 34.6% in the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.2%

Shares of NYSE:ABT opened at $124.79 on Friday. 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 stock has a market cap of $216.99 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 2.27 and a beta of 0.72. The company has a 50 day moving average of $126.33 and a 200-day moving average of $130.03. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The firm had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same period last year, the firm earned $1.21 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, November 20th. Mizuho lifted their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Raymond James Financial increased their target price on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Benchmark began coverage on Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target for the company. 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’s stock. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $147.00.

About Abbott Laboratories

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.