FineMark National Bank & Trust Decreases Position in Abbott Laboratories $ABT

FineMark National Bank & Trust lowered its position in Abbott Laboratories (NYSE:ABT) by 1.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 48,240 shares of the healthcare product maker’s stock after selling 586 shares during the period. FineMark National Bank & Trust’s holdings in Abbott Laboratories were worth $6,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABT. IMG Wealth Management Inc. increased its holdings in Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 167 shares in the last quarter. Elequin Capital LP purchased a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $30,000. Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $33,000. Accent Capital Management LLC purchased a new stake in Abbott Laboratories in the 1st quarter valued at approximately $38,000. Finally, Curio Wealth LLC grew its holdings 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 valued at $42,000 after buying an additional 305 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays upped their price objective on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. BTIG Research restated a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a report on Wednesday, October 15th. Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Trading Up 0.0%

Shares of ABT stock opened at $130.08 on Wednesday. The firm’s 50-day simple moving average is $130.30 and its 200-day simple moving average is $131.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The firm has a market cap of $226.19 billion, a P/E ratio of 16.30, a PEG ratio of 2.36 and a beta of 0.68.

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

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, October 15th. Abbott Laboratories’s payout ratio is 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.