Acropolis Investment Management LLC Purchases 5,059 Shares of Abbott Laboratories $ABT

Acropolis Investment Management LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 151.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,395 shares of the healthcare product maker’s stock after buying an additional 5,059 shares during the quarter. Acropolis Investment Management LLC’s holdings in Abbott Laboratories were worth $1,142,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ABT. Vanguard Group Inc. boosted its holdings in Abbott Laboratories by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after purchasing an additional 2,977,715 shares during the period. State Street Corp raised its position in shares of Abbott Laboratories by 0.9% in the second quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker’s stock valued at $10,656,964,000 after buying an additional 689,517 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Abbott Laboratories by 3.8% in the second quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock valued at $5,184,589,000 after buying an additional 1,390,554 shares during the period. Norges Bank acquired a new stake in Abbott Laboratories during the second quarter worth approximately $3,026,180,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Abbott Laboratories by 0.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,177,029 shares of the healthcare product maker’s stock worth $1,792,209,000 after acquiring an additional 68,613 shares during the period. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABT has been the topic of several analyst reports. Mizuho increased their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Evercore ISI decreased their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Barclays upped their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, The Goldman Sachs Group lifted their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Price Performance

ABT stock opened at $126.63 on Thursday. The stock has a market cap of $220.19 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 2.31 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The company has a 50 day simple moving average of $127.07 and a 200 day simple moving average of $130.36. 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 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. The firm had revenue of $11.37 billion for 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 company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s payout ratio is currently 29.57%.

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.