Tealwood Asset Management Inc. Grows Stock Position in Abbott Laboratories $ABT

Tealwood Asset Management Inc. boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 141.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,110 shares of the healthcare product maker’s stock after purchasing an additional 16,455 shares during the period. Abbott Laboratories accounts for approximately 1.5% of Tealwood Asset Management Inc.’s holdings, making the stock its 4th largest holding. Tealwood Asset Management Inc.’s holdings in Abbott Laboratories were worth $3,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IMG Wealth Management Inc. increased its position in Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 167 shares in the last quarter. Anfield Capital Management LLC grew its stake in shares of Abbott Laboratories by 81.3% during the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Delos Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Curio Wealth LLC raised its position in Abbott Laboratories by 15,250.0% in the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after purchasing an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC lifted its holdings in Abbott Laboratories by 34.6% during the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after buying an additional 81 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $124.74 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $216.91 billion, a P/E ratio of 15.63, a PEG ratio of 2.28 and a beta of 0.72. The business has a 50-day moving average of $126.25 and a 200-day moving average of $129.94. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

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, hitting the consensus estimate of $1.30. The business had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, January 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABT. The Goldman Sachs Group lifted their target price on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday, December 22nd. 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 research report on Tuesday, October 14th. Finally, Evercore ISI cut their price objective 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 investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.