5,137 Shares in Abbott Laboratories $ABT Acquired by Econ Financial Services Corp

Econ Financial Services Corp acquired a new stake in Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,137 shares of the healthcare product maker’s stock, valued at approximately $688,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Trust Co lifted its stake in Abbott Laboratories by 109.8% in the third quarter. Charles Schwab Trust Co now owns 29,412 shares of the healthcare product maker’s stock worth $3,939,000 after acquiring an additional 15,394 shares during the period. Avanza Fonder AB raised its holdings in Abbott Laboratories by 0.4% in the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after purchasing an additional 655 shares in the last quarter. Seaview Investment Managers LLC purchased a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $11,068,000. Guggenheim Capital LLC boosted its stake in shares of Abbott Laboratories by 13.5% during the 2nd quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock valued at $13,457,000 after purchasing an additional 11,794 shares in the last quarter. Finally, Vest Financial LLC raised its stake in Abbott Laboratories by 12.1% in the second quarter. Vest Financial LLC now owns 592,300 shares of the healthcare product maker’s stock worth $80,559,000 after buying an additional 63,811 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABT. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday. The Goldman Sachs Group lifted their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a report on Thursday, October 16th. Barclays boosted their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, Benchmark assumed coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price target for the company. Two research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $125.30 on Friday. The business has a fifty day moving average price of $126.04 and a 200-day moving average price of $129.69. 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 market capitalization of $217.88 billion, a PE ratio of 15.70, a PEG 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 announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The company had revenue of $11.37 billion for 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%. Abbott Laboratories’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors 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 is Thursday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Abbott Laboratories Profile

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.