Associated Banc Corp Purchases 4,720 Shares of Abbott Laboratories $ABT

Associated Banc Corp raised its position in Abbott Laboratories (NYSE:ABT) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,811 shares of the healthcare product maker’s stock after buying an additional 4,720 shares during the quarter. Associated Banc Corp’s holdings in Abbott Laboratories were worth $17,253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Abbott Laboratories during the second quarter worth about $3,026,180,000. Laurel Wealth Advisors LLC boosted its holdings in 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 buying an additional 6,011,891 shares during the period. Vanguard Group Inc. grew its stake 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 buying an additional 2,977,715 shares in the last quarter. First Trust Advisors LP raised its holdings in Abbott Laboratories by 180.7% during 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 acquiring an additional 1,972,097 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Abbott Laboratories by 98.6% during the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after acquiring an additional 1,721,523 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.2%

ABT stock opened at $125.95 on Friday. The company’s 50 day moving average is $126.13 and its 200 day moving average is $129.36. The stock has a market cap of $219.00 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.09 and a beta of 0.72. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion during 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 business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts predict 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. Investors of record on Thursday, January 15th will be paid a $0.63 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. 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. Abbott Laboratories’s payout ratio is currently 29.57%.

Analysts Set New Price Targets

A number of analysts recently issued reports on ABT shares. Barclays boosted their price objective on Abbott Laboratories from $162.00 to $169.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Benchmark assumed coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Daiwa Capital Markets raised their price objective on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday, December 29th. Two research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.68.

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.