Oak Harvest Investment Services Decreases Stake in Abbott Laboratories $ABT

Oak Harvest Investment Services lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 41.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,712 shares of the healthcare product maker’s stock after selling 36,011 shares during the period. Oak Harvest Investment Services’ holdings in Abbott Laboratories were worth $6,792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Trust Co boosted its stake in Abbott Laboratories by 109.8% during the 3rd quarter. Charles Schwab Trust Co now owns 29,412 shares of the healthcare product maker’s stock worth $3,939,000 after purchasing an additional 15,394 shares during the period. Avanza Fonder AB raised its holdings in shares of Abbott Laboratories by 0.4% in the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after buying an additional 655 shares during the last quarter. Seaview Investment Managers LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth about $11,068,000. Guggenheim Capital LLC grew its holdings in shares of Abbott Laboratories by 13.5% during the second quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock worth $13,457,000 after buying an additional 11,794 shares during the last quarter. Finally, Vest Financial LLC increased its position in Abbott Laboratories by 12.1% in the 2nd quarter. Vest Financial LLC now owns 592,300 shares of the healthcare product maker’s stock valued at $80,559,000 after acquiring an additional 63,811 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.3%

Shares of ABT opened at $124.53 on Tuesday. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. 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 $216.53 billion, a P/E ratio of 15.60, a PEG ratio of 2.28 and a beta of 0.71. The firm’s 50-day moving average is $126.15 and its two-hundred day moving average is $129.82.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 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 business had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the previous year, the company earned $1.21 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABT. Mizuho boosted their target price on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note 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. Sanford C. Bernstein boosted their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Evercore ISI reduced their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Two equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.00.

About Abbott Laboratories

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.