Abbott Laboratories $ABT Shares Sold by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS decreased its holdings in Abbott Laboratories (NYSE:ABT) by 17.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,722 shares of the healthcare product maker’s stock after selling 4,109 shares during the quarter. Abbott Laboratories comprises approximately 0.8% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 29th biggest holding. Legacy Wealth Management LLC MS’s holdings in Abbott Laboratories were worth $2,642,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ABT. Vanguard Group Inc. raised its holdings in Abbott Laboratories by 1.8% during the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock worth $23,502,644,000 after purchasing an additional 2,977,715 shares during the last quarter. State Street Corp grew its stake in Abbott Laboratories by 0.9% in the 2nd quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker’s stock worth $10,656,964,000 after acquiring an additional 689,517 shares during the period. Geode Capital Management LLC increased its stake in shares of Abbott Laboratories by 3.8% during 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 acquiring an additional 1,390,554 shares during the last quarter. Norges Bank purchased a new position in Abbott Laboratories during the second quarter worth approximately $3,026,180,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Abbott Laboratories by 0.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,177,029 shares of the healthcare product maker’s stock worth $1,792,209,000 after buying an additional 68,613 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.7%

Shares of Abbott Laboratories stock opened at $126.21 on Friday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a market capitalization of $219.46 billion, a PE ratio of 15.82, a P/E/G ratio of 2.10 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The business has a 50-day moving average of $126.08 and a 200-day moving average of $129.47.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the business earned $1.21 EPS. 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. As a group, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on ABT. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Daiwa Capital Markets lifted their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Wells Fargo & Company increased their price target on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Raymond James Financial increased their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $147.47.

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.