Los Angeles Capital Management LLC Has $19.18 Million Stock Position in Abbott Laboratories $ABT

Los Angeles Capital Management LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 228.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 140,997 shares of the healthcare product maker’s stock after buying an additional 98,064 shares during the period. Los Angeles Capital Management LLC’s holdings in Abbott Laboratories were worth $19,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mayflower Financial Advisors LLC lifted its position in shares of Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock valued at $2,298,000 after acquiring an additional 78 shares in the last quarter. FF Advisors LLC grew its position in Abbott Laboratories by 4.3% during the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after purchasing an additional 79 shares in the last quarter. Charles Schwab Trust Co raised its stake in Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after purchasing an additional 79 shares during the period. Bridgewater Advisors Inc. lifted its holdings in shares of Abbott Laboratories by 0.6% in the second quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after purchasing an additional 79 shares in the last quarter. Finally, Opes Wealth Management LLC boosted its position in shares of Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after buying an additional 80 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of ABT opened at $126.28 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The firm has a market cap of $219.59 billion, a PE ratio of 15.82, a PEG ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The firm’s 50 day moving average price is $130.78 and its 200 day moving average price is $131.40.

Abbott Laboratories (NYSE:ABT) last announced 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. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the prior year, the business posted $1.21 EPS. Abbott Laboratories’s quarterly revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is 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 currently 29.57%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Raymond James Financial upped their price target on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. The Goldman Sachs Group upped their target price on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Benchmark initiated coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

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.