Marco Investment Management LLC Lowers Stock Holdings in Abbott Laboratories $ABT

Marco Investment Management LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 1.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 61,898 shares of the healthcare product maker’s stock after selling 749 shares during the period. Marco Investment Management LLC’s holdings in Abbott Laboratories were worth $8,419,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nuveen LLC bought a new stake in Abbott Laboratories during the 1st quarter valued at approximately $1,658,180,000. Goldman Sachs Group Inc. raised its position in shares of Abbott Laboratories by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after buying an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after buying an additional 3,371,113 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Abbott Laboratories by 98.6% during the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after acquiring an additional 1,721,523 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after acquiring an additional 1,639,954 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

ABT opened at $126.28 on Friday. The business has a fifty day moving average of $130.78 and a 200 day moving average of $131.40. The stock has a market cap of $219.59 billion, a P/E ratio of 15.82, a PEG ratio of 2.36 and a beta of 0.68. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT) last released 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 business had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Benchmark initiated coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Morgan Stanley boosted their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Jefferies Financial Group upped their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price 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.