FUKOKU MUTUAL LIFE INSURANCE Co Sells 636 Shares of Abbott Laboratories $ABT

FUKOKU MUTUAL LIFE INSURANCE Co cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,455 shares of the healthcare product maker’s stock after selling 636 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Abbott Laboratories were worth $878,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ABT. Howe & Rusling Inc. grew its holdings in shares of Abbott Laboratories by 4.3% in the second quarter. Howe & Rusling Inc. now owns 5,711 shares of the healthcare product maker’s stock worth $777,000 after purchasing an additional 233 shares during the last quarter. Lionshead Wealth Management LLC purchased a new stake in Abbott Laboratories during the 2nd quarter valued at $209,000. GDS Wealth Management grew its holdings in Abbott Laboratories by 4.7% in the 2nd quarter. GDS Wealth Management now owns 4,282 shares of the healthcare product maker’s stock worth $582,000 after acquiring an additional 192 shares during the last quarter. Ensign Peak Advisors Inc increased its position in shares of Abbott Laboratories by 5.5% in the second quarter. Ensign Peak Advisors Inc now owns 3,277,679 shares of the healthcare product maker’s stock valued at $445,797,000 after acquiring an additional 170,122 shares during the period. Finally, Quilter Plc raised its stake in shares of Abbott Laboratories by 20.2% during the second quarter. Quilter Plc now owns 4,620 shares of the healthcare product maker’s stock valued at $628,000 after acquiring an additional 776 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABT. Daiwa Capital Markets raised their target price on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Evercore ISI reduced their target price on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. The Goldman Sachs Group upped their target price on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, Raymond James Financial lifted their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Down 2.9%

Shares of NYSE:ABT opened at $126.28 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The firm has a market capitalization of $219.58 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.36 and a beta of 0.68. The stock has a 50 day moving average price of $130.24 and a 200-day moving average price of $131.30.

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

Abbott Laboratories Dividend Announcement

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

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.