Maple Capital Management Inc. Boosts Stock Position in Abbott Laboratories $ABT

Maple Capital Management Inc. raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.3% in the second quarter, Holdings Channel reports. The institutional investor owned 172,197 shares of the healthcare product maker’s stock after buying an additional 2,240 shares during the quarter. Abbott Laboratories accounts for about 1.6% of Maple Capital Management Inc.’s holdings, making the stock its 21st biggest position. Maple Capital Management Inc.’s holdings in Abbott Laboratories were worth $23,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new stake in Abbott Laboratories during the 1st quarter valued at about $1,658,180,000. Goldman Sachs Group Inc. raised its holdings in Abbott Laboratories by 29.2% in 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 during the last quarter. Wellington Management Group LLP lifted its position in 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 valued at $3,948,117,000 after acquiring an additional 3,371,113 shares in the last quarter. TD Asset Management Inc boosted its stake in Abbott Laboratories by 98.6% during the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after purchasing an additional 1,721,523 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Abbott Laboratories by 82.5% in the second quarter. Acadian Asset Management LLC now owns 2,896,714 shares of the healthcare product maker’s stock worth $393,949,000 after purchasing an additional 1,309,523 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABT. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Barclays boosted their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Morgan Stanley increased their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Up 0.9%

Shares of ABT stock opened at $126.98 on Wednesday. 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 one year low of $110.86 and a one year high of $141.23. The company’s fifty day moving average price is $130.56 and its 200-day moving average price is $131.37. The company has a market capitalization of $220.80 billion, a price-to-earnings ratio of 15.91, 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 earnings per share (EPS) 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 business had revenue of $11.37 billion during 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 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. Sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend 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.