CX Institutional Increases Stock Position in Abbott Laboratories $ABT

CX Institutional boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 17.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,275 shares of the healthcare product maker’s stock after buying an additional 4,310 shares during the quarter. CX Institutional’s holdings in Abbott Laboratories were worth $3,921,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. IMG Wealth Management Inc. raised its position in shares of Abbott Laboratories by 759.1% in the 2nd 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 stake in Abbott Laboratories by 81.3% in the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in Abbott Laboratories in the second quarter worth about $32,000. Curio Wealth LLC lifted its position in shares of Abbott Laboratories by 15,250.0% during the second 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 last quarter. Finally, Pineridge Advisors LLC boosted its holdings in shares of Abbott Laboratories by 34.6% in the 2nd 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. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays boosted their price objective on shares of Abbott Laboratories from $162.00 to $169.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group upped their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Raymond James Financial raised their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Mizuho upped their target price on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a report 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 given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.47.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $127.06 on Thursday. The business has a fifty day moving average of $126.05 and a 200 day moving average of $129.49. 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 firm has a market capitalization of $220.94 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 2.12 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The company’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. As a group, research analysts expect that Abbott Laboratories will post 5.14 earnings per share 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 given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s payout ratio is 29.57%.

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.