Abbott Laboratories $ABT Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in Abbott Laboratories (NYSE:ABT) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,190,759 shares of the healthcare product maker’s stock after purchasing an additional 52,220 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Abbott Laboratories worth $561,310,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. raised its holdings in Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares during the last quarter. Anfield Capital Management LLC raised its position in Abbott Laboratories by 81.3% during the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Delos Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Curio Wealth LLC increased its stake in shares of 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 in the last quarter. Finally, Pineridge Advisors LLC lifted its stake in Abbott Laboratories by 34.6% in the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $125.95 on Monday. The business has a 50-day moving average of $126.13 and a two-hundred day moving average of $129.30. The firm has a market capitalization of $219.00 billion, a PE ratio of 15.78, a P/E/G 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 has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 business had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a report on Thursday, October 16th. Mizuho boosted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Evercore ISI lifted their target price on shares of 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 target on shares of Abbott Laboratories in a report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Abbott Laboratories presently has an average 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.