Oak Harvest Investment Services Reduces Holdings in Abbott Laboratories $ABT

Oak Harvest Investment Services lowered its stake in Abbott Laboratories (NYSE:ABT) by 41.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 50,712 shares of the healthcare product maker’s stock after selling 36,011 shares during the period. Oak Harvest Investment Services’ holdings in Abbott Laboratories were worth $6,792,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new position in Abbott Laboratories in the 2nd quarter valued at about $3,026,180,000. Laurel Wealth Advisors LLC boosted its stake in shares of Abbott Laboratories by 13,347.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,056,934 shares of the healthcare product maker’s stock worth $823,804,000 after purchasing an additional 6,011,891 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Abbott Laboratories by 1.8% during the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock worth $23,502,644,000 after buying an additional 2,977,715 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Abbott Laboratories by 180.7% during the second quarter. First Trust Advisors LP now owns 3,063,443 shares of the healthcare product maker’s stock valued at $416,659,000 after buying an additional 1,972,097 shares during the period. Finally, TD Asset Management Inc boosted its position in Abbott Laboratories by 98.6% during the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after acquiring an additional 1,721,523 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $124.53 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The company has a market cap of $216.53 billion, a PE ratio of 15.60, a P/E/G ratio of 2.28 and a beta of 0.71. The company’s fifty day simple moving average is $126.15 and its 200-day simple moving average is $129.82. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting 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 the consensus estimate of $11.40 billion. During the same period last year, the business posted $1.21 EPS. The company’s 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, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 annualized dividend and a yield of 2.0%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ABT shares. Barclays increased their price target on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Wells Fargo & Company raised their price target on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Mizuho upped their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Evercore ISI cut their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Finally, Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Two investment 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 is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.