Abbott Laboratories $ABT Stock Holdings Cut by Pacer Advisors Inc.

Pacer Advisors Inc. cut its position in shares of Abbott Laboratories (NYSE:ABT) by 6.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 143,188 shares of the healthcare product maker’s stock after selling 10,297 shares during the quarter. Pacer Advisors Inc.’s holdings in Abbott Laboratories were worth $19,179,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ABT. Vanguard Group Inc. raised its position 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 acquiring an additional 2,977,715 shares in the last quarter. State Street Corp grew its stake in shares of 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 worth $10,656,964,000 after purchasing an additional 689,517 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Abbott Laboratories by 3.8% in 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 purchasing an additional 1,390,554 shares in the last quarter. Norges Bank acquired a new stake in Abbott Laboratories during the second quarter valued at approximately $3,026,180,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Abbott Laboratories by 0.5% during 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 buying an additional 68,613 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.1%

Shares of Abbott Laboratories stock opened at $124.74 on Friday. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The company has a market cap of $216.91 billion, a P/E ratio of 15.63, a P/E/G ratio of 2.28 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. The stock has a 50-day moving average price of $126.25 and a 200 day moving average price of $129.94.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on ABT. Daiwa Capital Markets upped their price target on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Jefferies Financial Group boosted their target price on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Sanford C. Bernstein increased their price target on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Mizuho boosted their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, Evercore ISI decreased their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Two equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.