Arrowstreet Capital Limited Partnership Purchases 291,987 Shares of Abbott Laboratories $ABT

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 134.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 509,565 shares of the healthcare product maker’s stock after purchasing an additional 291,987 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Abbott Laboratories were worth $69,306,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. lifted its stake in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Abbott Laboratories in the first quarter valued at $30,000. Anfield Capital Management LLC lifted its position in shares of Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after buying an additional 104 shares during the last quarter. Curio Wealth LLC grew its stake in shares of Abbott Laboratories by 15,250.0% during the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after acquiring an additional 305 shares during the period. Finally, Pineridge Advisors LLC increased its holdings in Abbott Laboratories by 34.6% in the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after acquiring an additional 81 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.1%

ABT stock opened at $125.39 on Friday. The company’s 50 day moving average is $128.71 and its 200 day moving average is $130.90. The stock has a market cap of $218.04 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.28 and a beta of 0.72. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. 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 results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, November 20th. The Goldman Sachs Group raised their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Wells Fargo & Company lifted their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories 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.