Abbott Laboratories $ABT Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its holdings in Abbott Laboratories (NYSE:ABT) by 5.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 288,400 shares of the healthcare product maker’s stock after acquiring an additional 15,562 shares during the quarter. Abbott Laboratories makes up about 0.6% of Crossmark Global Holdings Inc.’s holdings, making the stock its 23rd largest holding. Crossmark Global Holdings Inc.’s holdings in Abbott Laboratories were worth $39,225,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Abbott Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock worth $22,527,039,000 after purchasing an additional 1,177,739 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Abbott Laboratories by 3.8% in the second quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock worth $5,184,589,000 after buying an additional 1,390,554 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after buying an additional 3,371,113 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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. Finally, Charles Schwab Investment Management Inc. raised its stake in Abbott Laboratories by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock worth $1,738,831,000 after acquiring an additional 168,095 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT opened at $130.59 on Friday. The firm has a fifty day moving average price of $130.38 and a 200 day moving average price of $131.35. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The stock has a market cap of $227.08 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT) last released 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 net margin of 31.88% and a return on equity of 17.78%. The company had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. 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 year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 16th. Barclays raised their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Sanford C. Bernstein upped their price objective on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, BTIG Research reissued a “buy” rating and set a $145.00 target price on shares of Abbott Laboratories in a report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.