Diversified Trust Co Boosts Stake in Abbott Laboratories $ABT

Diversified Trust Co grew its holdings in Abbott Laboratories (NYSE:ABT) by 25.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,840 shares of the healthcare product maker’s stock after purchasing an additional 18,209 shares during the period. Diversified Trust Co’s holdings in Abbott Laboratories were worth $12,167,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Abbott Laboratories during the second quarter worth about $3,026,180,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Abbott Laboratories by 13,347.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,056,934 shares of the healthcare product maker’s stock worth $823,804,000 after acquiring an additional 6,011,891 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Abbott Laboratories by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock worth $23,502,644,000 after purchasing an additional 2,977,715 shares during the period. First Trust Advisors LP increased its holdings in Abbott Laboratories by 180.7% in the 2nd quarter. First Trust Advisors LP now owns 3,063,443 shares of the healthcare product maker’s stock valued at $416,659,000 after purchasing an additional 1,972,097 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Abbott Laboratories by 98.6% in the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after purchasing an additional 1,721,523 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.3%

ABT opened at $124.53 on Tuesday. The company has a market cap of $216.53 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 2.28 and a beta of 0.71. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The business’s fifty day moving average is $126.15 and its two-hundred day moving average is $129.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70.

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, meeting the consensus estimate of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Raymond James Financial lifted 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. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, November 20th. Barclays boosted 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. Mizuho increased their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.