Sumitomo Mitsui DS Asset Management Company Ltd Has $31.64 Million Holdings in Abbott Laboratories $ABT

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Abbott Laboratories (NYSE:ABT) by 3.8% in the third quarter, HoldingsChannel.com reports. The fund owned 236,204 shares of the healthcare product maker’s stock after buying an additional 8,678 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Abbott Laboratories were worth $31,637,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ABT. Vanguard Group Inc. boosted its stake in 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 worth $23,502,644,000 after purchasing an additional 2,977,715 shares in the last quarter. State Street Corp lifted its position in Abbott Laboratories by 0.9% during the 2nd quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker’s stock worth $10,656,964,000 after buying an additional 689,517 shares in the last quarter. Geode Capital Management LLC grew 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 worth $5,184,589,000 after acquiring an additional 1,390,554 shares during the last quarter. Norges Bank acquired a new stake in Abbott Laboratories in the 2nd quarter valued at about $3,026,180,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Abbott Laboratories by 0.5% in the second 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 acquiring an additional 68,613 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Down 0.2%

NYSE ABT opened at $125.95 on Friday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The stock has a 50-day simple moving average of $126.13 and a 200 day simple moving average of $129.42. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $219.00 billion, a PE ratio of 15.78, a P/E/G ratio of 2.09 and a beta of 0.72.

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 the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ABT. Barclays raised their price target on shares of Abbott Laboratories from $162.00 to $169.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Benchmark began coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Finally, Mizuho upped their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report 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 company’s stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $147.68.

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.