Abbott Laboratories $ABT Shares Bought by Twin Capital Management Inc.

Twin Capital Management Inc. increased its holdings in Abbott Laboratories (NYSE:ABT) by 12.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,173 shares of the healthcare product maker’s stock after acquiring an additional 6,179 shares during the quarter. Abbott Laboratories makes up 0.8% of Twin Capital Management Inc.’s portfolio, making the stock its 19th biggest position. Twin Capital Management Inc.’s holdings in Abbott Laboratories were worth $7,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Abbott Laboratories in the first quarter worth $1,658,180,000. Goldman Sachs Group Inc. grew its holdings in Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after acquiring an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after purchasing an additional 3,371,113 shares during the last quarter. 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 purchasing an additional 1,721,523 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after buying an additional 1,639,954 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Evercore ISI lowered their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Raymond James Financial raised their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Finally, Benchmark started coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Down 0.9%

ABT stock opened at $124.62 on Thursday. The firm’s 50-day moving average is $131.04 and its two-hundred day moving average is $131.48. The company has a market capitalization of $216.70 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last released 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. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the firm posted $1.21 earnings per share. The firm’s revenue for the quarter 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, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.