Abbott Laboratories $ABT Position Decreased by Primecap Management Co. CA

Primecap Management Co. CA reduced its holdings in Abbott Laboratories (NYSE:ABT) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 875,490 shares of the healthcare product maker’s stock after selling 7,080 shares during the period. Primecap Management Co. CA’s holdings in Abbott Laboratories were worth $119,075,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Tortoise Investment Management LLC increased its stake in Abbott Laboratories by 10.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after purchasing an additional 77 shares in the last quarter. FF Advisors LLC increased its position in shares of Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after acquiring an additional 79 shares in the last quarter. Charles Schwab Trust Co raised its holdings in shares of Abbott Laboratories by 0.6% during the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after acquiring an additional 79 shares during the period. Bridgewater Advisors Inc. lifted its position in shares of Abbott Laboratories by 0.6% in the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after acquiring an additional 79 shares in the last quarter. Finally, Opes Wealth Management LLC boosted its stake in Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE ABT opened at $126.28 on Thursday. The firm has a market cap of $219.58 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. The stock’s 50-day moving average is $130.24 and its two-hundred day moving average is $131.30. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week 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.

Abbott Laboratories (NYSE:ABT) last issued 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. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, October 15th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Mizuho raised their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a report on Thursday, October 16th. 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 research note on Thursday, October 16th. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Evercore ISI lowered their price target on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Two 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.