Ameriprise Financial Inc. Grows Stock Holdings in Abbott Laboratories $ABT

Ameriprise Financial Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,001,478 shares of the healthcare product maker’s stock after buying an additional 942,532 shares during the period. Ameriprise Financial Inc. owned about 0.75% of Abbott Laboratories worth $1,764,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Brighton Jones LLC raised its holdings in Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its position in Abbott Laboratories by 68.2% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 22,073 shares of the healthcare product maker’s stock worth $2,928,000 after purchasing an additional 8,950 shares in the last quarter. Trivium Point Advisory LLC increased its holdings in Abbott Laboratories by 15.7% in the first quarter. Trivium Point Advisory LLC now owns 3,515 shares of the healthcare product maker’s stock valued at $466,000 after buying an additional 477 shares in the last quarter. Providence Capital Advisors LLC raised its stake in shares of Abbott Laboratories by 2.2% during the 1st quarter. Providence Capital Advisors LLC now owns 64,445 shares of the healthcare product maker’s stock worth $8,549,000 after buying an additional 1,367 shares during the period. Finally, Horizon Investments LLC grew its position in shares of Abbott Laboratories by 4.2% in the first quarter. Horizon Investments LLC now owns 26,494 shares of the healthcare product maker’s stock valued at $3,498,000 after purchasing an additional 1,074 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $125.47 on Friday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a 50-day moving average price of $127.45 and a 200 day moving average price of $130.49. The company has a market cap of $218.17 billion, a P/E ratio of 15.72, a PEG ratio of 2.25 and a beta of 0.72. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

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, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the business posted $1.21 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays lifted their price target on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, November 20th. Raymond James Financial boosted their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Daiwa Capital Markets lifted their price objective on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Two investment 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 MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

About Abbott Laboratories

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.