Beutel Goodman & Co Ltd. Has $3.75 Million Holdings in Abbott Laboratories $ABT

Beutel Goodman & Co Ltd. decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 20.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 27,600 shares of the healthcare product maker’s stock after selling 7,198 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Abbott Laboratories were worth $3,753,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Veltria Advisors Corp. boosted its position in Abbott Laboratories by 3.0% during the second quarter. Veltria Advisors Corp. now owns 3,038 shares of the healthcare product maker’s stock worth $413,000 after purchasing an additional 89 shares during the period. Great Diamond Partners LLC boosted its holdings in shares of Abbott Laboratories by 18.1% during the 2nd quarter. Great Diamond Partners LLC now owns 22,738 shares of the healthcare product maker’s stock worth $3,093,000 after buying an additional 3,485 shares during the period. Knuff & Co LLC grew its stake in Abbott Laboratories by 2.6% in the 2nd quarter. Knuff & Co LLC now owns 9,502 shares of the healthcare product maker’s stock valued at $1,292,000 after buying an additional 240 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Abbott Laboratories by 0.6% in the 2nd quarter. Baird Financial Group Inc. now owns 1,992,050 shares of the healthcare product maker’s stock worth $270,939,000 after acquiring an additional 12,764 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Abbott Laboratories by 180.7% during the second quarter. First Trust Advisors LP now owns 3,063,443 shares of the healthcare product maker’s stock valued at $416,659,000 after acquiring an additional 1,972,097 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

ABT opened at $125.39 on Friday. The stock’s 50 day simple moving average is $128.71 and its 200-day simple moving average is $130.90. 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 stock has a market cap of $218.04 billion, a PE ratio of 15.71, a P/E/G ratio of 2.28 and a beta of 0.72. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

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

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were paid 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 currently 29.57%.

Analysts Set New Price Targets

A number of research firms have recently commented on ABT. Mizuho lifted their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Benchmark began coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, November 20th. Sanford C. Bernstein raised their price objective 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, BTIG Research reiterated a “buy” rating and set a $145.00 target price on shares of Abbott Laboratories in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.