Allspring Global Investments Holdings LLC Acquires 69,578 Shares of Abbott Laboratories $ABT

Allspring Global Investments Holdings LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 19.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 422,118 shares of the healthcare product maker’s stock after purchasing an additional 69,578 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Abbott Laboratories were worth $56,340,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ABT. Carr Financial Group Corp boosted its holdings in shares of Abbott Laboratories by 2.0% in the 3rd quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock worth $520,000 after acquiring an additional 76 shares in the last quarter. Tortoise Investment Management LLC raised its position in Abbott Laboratories by 10.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock valued at $108,000 after purchasing an additional 77 shares during the last quarter. Gemmer Asset Management LLC boosted its stake in Abbott Laboratories by 2.9% in the third quarter. Gemmer Asset Management LLC now owns 2,750 shares of the healthcare product maker’s stock worth $368,000 after purchasing an additional 78 shares in the last quarter. FF Advisors LLC grew its holdings in shares of Abbott Laboratories by 4.3% during the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after purchasing an additional 79 shares during the last quarter. Finally, Charles Schwab Trust Co increased its stake in shares of Abbott Laboratories by 0.6% in the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after buying an additional 79 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Raymond James Financial increased their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Daiwa Capital Markets lifted their target price on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 16th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, Benchmark started coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $125.30 on Friday. 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 firm has a market cap of $217.88 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 2.28 and a beta of 0.72. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The stock’s 50-day moving average is $126.04 and its 200-day moving average is $129.69.

Abbott Laboratories (NYSE:ABT) last issued 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 business 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%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a dividend 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%.

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.