Midwest Trust Co Buys New Holdings in Abbott Laboratories $ABT

Midwest Trust Co purchased a new position in Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,426 shares of the healthcare product maker’s stock, valued at approximately $6,858,000.

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

Abbott Laboratories Stock Performance

NYSE ABT opened at $126.28 on Monday. The company has a market capitalization of $219.59 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The company has a 50-day simple moving average of $130.78 and a 200 day simple moving average of $131.41.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the firm earned $1.21 EPS. The company’s revenue 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. On average, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced 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. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent research reports. Daiwa Capital Markets boosted their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Evercore ISI decreased their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Barclays raised their price objective on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Raymond James Financial raised their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Company 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.