Osaic Holdings Inc. Raises Stock Position in Abbott Laboratories $ABT

Osaic Holdings Inc. lifted its stake in Abbott Laboratories (NYSE:ABT) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,938 shares of the healthcare product maker’s stock after buying an additional 31,406 shares during the period. Osaic Holdings Inc.’s holdings in Abbott Laboratories were worth $47,491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Trust grew its holdings in shares of Abbott Laboratories by 1.3% during the second quarter. American Trust now owns 31,162 shares of the healthcare product maker’s stock worth $4,238,000 after purchasing an additional 409 shares during the last quarter. Evolution Wealth Management Inc. acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at about $91,000. Stonebridge Wealth Management LLC purchased a new position in Abbott Laboratories during the 2nd quarter worth approximately $982,000. Orion Porfolio Solutions LLC increased its position in Abbott Laboratories by 4.3% during the second quarter. Orion Porfolio Solutions LLC now owns 182,163 shares of the healthcare product maker’s stock worth $24,776,000 after buying an additional 7,446 shares during the period. Finally, Provident Investment Management Inc. lifted its stake in Abbott Laboratories by 1,686.3% in the second quarter. Provident Investment Management Inc. now owns 284,377 shares of the healthcare product maker’s stock valued at $38,678,000 after buying an additional 268,457 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $128.58 on Tuesday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a 50-day moving average price of $127.35 and a 200 day moving average price of $130.44. The company has a market cap of $223.58 billion, a P/E ratio of 16.11, a PEG ratio of 2.29 and a beta of 0.71. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. The company had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Mizuho raised their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Jefferies Financial Group lifted 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. Daiwa Capital Markets upped their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Evercore ISI lowered their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

About Abbott Laboratories

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.