Amalgamated Bank Has $49.25 Million Position in Abbott Laboratories $ABT

Amalgamated Bank boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,076 shares of the healthcare product maker’s stock after acquiring an additional 21,362 shares during the quarter. Amalgamated Bank’s holdings in Abbott Laboratories were worth $49,246,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Abbott Laboratories by 0.7% during the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock worth $22,527,039,000 after acquiring an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP raised its stake in Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after acquiring an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Abbott Laboratories by 29.2% during the first 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. Massachusetts Financial Services Co. MA raised its stake in Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after acquiring an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Abbott Laboratories by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock worth $1,738,831,000 after acquiring an additional 168,095 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $124.42 on Thursday. The stock has a 50-day moving average price of $131.78 and a 200 day moving average price of $131.64. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm has a market cap of $216.55 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.40 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. BTIG Research restated a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Raymond James Financial raised their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group raised their target price on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.00.

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.