Abbott Laboratories $ABT is Tsfg LLC’s 8th Largest Position

Tsfg LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 3.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 107,253 shares of the healthcare product maker’s stock after buying an additional 3,453 shares during the period. Abbott Laboratories comprises 2.6% of Tsfg LLC’s portfolio, making the stock its 8th biggest holding. Tsfg LLC’s holdings in Abbott Laboratories were worth $14,587,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. IMG Wealth Management Inc. grew its position in shares of Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $33,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.9%

Shares of NYSE ABT opened at $123.61 on Monday. The stock has a market cap of $214.94 billion, a P/E ratio of 15.49, a PEG ratio of 2.36 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The business’s fifty day simple moving average is $131.45 and its 200-day simple moving average is $131.61.

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 the consensus estimate of $1.30. The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% 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 last year, the firm earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Analyst Ratings Changes

ABT has been the subject of a number of analyst reports. Jefferies Financial Group upped their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. BTIG Research reiterated a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Wells Fargo & Company increased their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Raymond James Financial increased 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. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.