BI Asset Management Fondsmaeglerselskab A S Decreases Stock Position in Abbott Laboratories $ABT

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 24.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 218,156 shares of the healthcare product maker’s stock after selling 70,936 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Abbott Laboratories were worth $28,191,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Boothbay Fund Management LLC increased its stake in shares of Abbott Laboratories by 18.3% in the second quarter. Boothbay Fund Management LLC now owns 15,178 shares of the healthcare product maker’s stock worth $2,064,000 after buying an additional 2,347 shares during the period. Bellevue Group AG increased its position in shares of Abbott Laboratories by 0.5% during the second quarter. Bellevue Group AG now owns 1,564,022 shares of the healthcare product maker’s stock valued at $212,723,000 after buying an additional 7,893 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Abbott Laboratories by 12.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,597,715 shares of the healthcare product maker’s stock valued at $217,305,000 after purchasing an additional 180,051 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Abbott Laboratories by 7.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,001,478 shares of the healthcare product maker’s stock valued at $1,764,480,000 after acquiring an additional 942,532 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Abbott Laboratories by 8.6% in the second quarter. AQR Capital Management LLC now owns 1,863,869 shares of the healthcare product maker’s stock worth $251,893,000 after purchasing an additional 147,176 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Barclays upped their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Sanford C. Bernstein upped their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Mizuho boosted their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, BTIG Research reissued a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a 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 given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Performance

ABT stock opened at $125.47 on Friday. The company has a market cap of $218.17 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 2.25 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 1 year low of $110.86 and a 1 year high of $141.23. The stock’s fifty day moving average price is $127.45 and its 200-day moving average price is $130.49.

Abbott Laboratories (NYSE:ABT) last announced 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. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same period last year, the firm posted $1.21 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Abbott Laboratories Profile

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.