Paradigm Asset Management Co. LLC Has $1.16 Million Stake in Abbott Laboratories $ABT

Paradigm Asset Management Co. LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,500 shares of the healthcare product maker’s stock after selling 500 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Abbott Laboratories were worth $1,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Avanza Fonder AB boosted its holdings in Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after acquiring an additional 655 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Abbott Laboratories by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after acquiring an additional 73,780 shares in the last quarter. Madrona Financial Services LLC increased its position in shares of Abbott Laboratories by 9.7% during the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after acquiring an additional 152 shares during the last quarter. State of Michigan Retirement System boosted its position in Abbott Laboratories by 0.5% in the second quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock worth $64,340,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Dillon & Associates Inc. grew its stake in Abbott Laboratories by 1.9% in the 2nd quarter. Dillon & Associates Inc. now owns 218,655 shares of the healthcare product maker’s stock valued at $29,737,000 after purchasing an additional 4,095 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock 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 stock has a market capitalization of $219.59 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The stock’s 50-day simple moving average is $130.78 and its 200 day simple moving average is $131.40.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% 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 last year, the company earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Benchmark started coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Mizuho raised their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. Finally, 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. Two research 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’s stock. Based on data from MarketBeat.com, the stock 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.