Abbott Laboratories $ABT Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 9.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,076 shares of the healthcare product maker’s stock after selling 1,816 shares during the period. Thoroughbred Financial Services LLC’s holdings in Abbott Laboratories were worth $2,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nuveen LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $1,658,180,000. Goldman Sachs Group Inc. increased its position in 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 worth $2,120,516,000 after buying an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP lifted its position 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 valued at $3,948,117,000 after acquiring an additional 3,371,113 shares in the last quarter. TD Asset Management Inc boosted its stake 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 valued at $471,669,000 after acquiring an additional 1,721,523 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Abbott Laboratories by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock valued at $5,184,589,000 after purchasing an additional 1,390,554 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABT. Mizuho lifted their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. BTIG Research reiterated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a report on Wednesday, October 15th. Jefferies Financial Group raised 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company increased their target price on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $130.59 on Friday. The company has a market cap of $227.08 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The stock’s 50-day moving average is $130.38 and its 200-day moving average is $131.35.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter last year, the firm posted $1.21 earnings per share. Abbott Laboratories’s revenue for the quarter was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share 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 paid a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

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.