1ST Source Bank Has $5.20 Million Position in Abbott Laboratories $ABT

1ST Source Bank decreased its stake in Abbott Laboratories (NYSE:ABT) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,228 shares of the healthcare product maker’s stock after selling 618 shares during the quarter. 1ST Source Bank’s holdings in Abbott Laboratories were worth $5,199,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Avanza Fonder AB grew its holdings in shares of Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after purchasing an additional 655 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Abbott Laboratories by 12.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after acquiring an additional 73,780 shares during the last quarter. Madrona Financial Services LLC increased its position in Abbott Laboratories by 9.7% in the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after acquiring an additional 152 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Abbott Laboratories by 0.5% in the second quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock worth $64,340,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Atria Investments Inc lifted its position in shares of Abbott Laboratories by 8.3% during the second quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock worth $25,062,000 after purchasing an additional 14,185 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $126.28 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock has a 50 day moving average price of $130.78 and a 200 day moving average price of $131.40. The stock has a market capitalization of $219.59 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period last year, the business posted $1.21 EPS. Abbott Laboratories’s 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. Analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid 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 is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Analyst Ratings Changes

Several analysts have commented on ABT shares. Barclays upped their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Evercore ISI dropped their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Sanford C. Bernstein boosted their target price on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Two 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 company presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Company Profile

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.