Twin Capital Management Inc. Has $7.78 Million Stock Position in Abbott Laboratories $ABT

Twin Capital Management Inc. increased its position in Abbott Laboratories (NYSE:ABT) by 12.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,173 shares of the healthcare product maker’s stock after acquiring an additional 6,179 shares during the quarter. Abbott Laboratories comprises about 0.8% of Twin Capital Management Inc.’s investment portfolio, making the stock its 19th biggest position. Twin Capital Management Inc.’s holdings in Abbott Laboratories were worth $7,776,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ABT. IMG Wealth Management Inc. boosted its stake in Abbott Laboratories by 759.1% during the 2nd 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 during the period. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories in the first quarter worth $27,000. Elequin Capital LP bought a new position in Abbott Laboratories during the first quarter worth $30,000. Vision Financial Markets LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at $33,000. Finally, Accent Capital Management LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth $38,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $124.62 on Thursday. 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 $131.04 and a 200 day simple moving average of $131.48. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $216.70 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Benchmark started coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. Wells Fargo & Company raised 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. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Finally, William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Profile

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.