Abbott Laboratories $ABT Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI raised its stake in Abbott Laboratories (NYSE:ABT) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,357 shares of the healthcare product maker’s stock after acquiring an additional 20,007 shares during the period. Citizens Financial Group Inc. RI’s holdings in Abbott Laboratories were worth $20,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. lifted its stake in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares during the last quarter. Anfield Capital Management LLC increased its holdings in shares of Abbott Laboratories by 81.3% in the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after acquiring an additional 104 shares during the period. Delos Wealth Advisors LLC purchased a new stake in Abbott Laboratories in the 2nd quarter valued at $32,000. Curio Wealth LLC boosted its stake in Abbott Laboratories by 15,250.0% during the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after purchasing an additional 305 shares during the period. Finally, Pineridge Advisors LLC grew its position in Abbott Laboratories by 34.6% during the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after purchasing an additional 81 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ABT shares. Barclays increased their target price on shares of Abbott Laboratories from $162.00 to $169.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, November 20th. Sanford C. Bernstein boosted their target price on Abbott Laboratories from $150.00 to $154.00 and gave the company an “outperform” rating in a report on Friday. Evercore ISI upped their price target on Abbott Laboratories from $142.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Finally, BTIG Research reiterated a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research report on Thursday, November 20th. Two 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $147.68.

Abbott Laboratories Stock Down 0.2%

Abbott Laboratories stock opened at $125.95 on Monday. The stock’s 50 day moving average price is $126.13 and its 200 day moving average price is $129.30. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a market cap of $219.00 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 2.09 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.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter last year, the company earned $1.21 earnings per share. Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business 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%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, January 15th. Abbott Laboratories’s dividend payout ratio 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.