Paradigm Asset Management Co. LLC Sells 500 Shares of Abbott Laboratories $ABT

Paradigm Asset Management Co. LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 5.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,500 shares of the healthcare product maker’s stock after selling 500 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Abbott Laboratories were worth $1,156,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABT. Summit Wealth & Retirement Planning Inc. bought a new stake in Abbott Laboratories in the 2nd quarter worth approximately $544,000. KCM Investment Advisors LLC raised its stake in shares of Abbott Laboratories by 5.1% during the second quarter. KCM Investment Advisors LLC now owns 146,946 shares of the healthcare product maker’s stock worth $19,986,000 after acquiring an additional 7,164 shares in the last quarter. Chancellor Financial Group WB LP lifted its holdings in shares of Abbott Laboratories by 3.7% in the 2nd quarter. Chancellor Financial Group WB LP now owns 4,217 shares of the healthcare product maker’s stock worth $574,000 after acquiring an additional 150 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in shares of Abbott Laboratories by 110.7% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 46,518 shares of the healthcare product maker’s stock valued at $6,327,000 after purchasing an additional 24,445 shares in the last quarter. Finally, Aspect Partners LLC lifted its stake in Abbott Laboratories by 292.7% in the second quarter. Aspect Partners LLC now owns 538 shares of the healthcare product maker’s stock worth $73,000 after purchasing an additional 401 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a report on Thursday, October 16th. Morgan Stanley raised their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Barclays boosted their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Sanford C. Bernstein raised their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, The Goldman Sachs Group lifted their target price 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. Two investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Performance

Shares of ABT opened at $126.28 on Friday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. 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 cap of $219.59 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.36 and a beta of 0.68. The business’s 50 day moving average price is $130.78 and its 200-day moving average price is $131.40.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The firm 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 quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued 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 dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Abbott Laboratories Company 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.