Trust Co. of Toledo NA OH Raises Holdings in Abbott Laboratories $ABT

Trust Co. of Toledo NA OH lifted its holdings in Abbott Laboratories (NYSE:ABT) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,008 shares of the healthcare product maker’s stock after purchasing an additional 495 shares during the quarter. Abbott Laboratories accounts for about 1.1% of Trust Co. of Toledo NA OH’s investment portfolio, making the stock its 17th biggest holding. Trust Co. of Toledo NA OH’s holdings in Abbott Laboratories were worth $10,066,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hughes Financial Services LLC bought a new position in Abbott Laboratories during the first quarter valued at approximately $27,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories in the 1st quarter worth $30,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories in the first quarter worth $32,000. Finally, Vision Financial Markets LLC bought a new position in Abbott Laboratories in the first quarter valued at about $33,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Raymond James Financial cut their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research note on Friday, July 18th. Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $144.00 and gave the company an “outperform” rating in a report on Tuesday. Morgan Stanley increased their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Benchmark started coverage on Abbott Laboratories in a research note on Friday. They issued a “buy” rating and a $145.00 price objective for the company. Finally, BTIG Research lowered their target price on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.17.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Down 0.8%

Shares of ABT stock opened at $132.30 on Friday. 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 $132.54 and its 200-day moving average price is $131.56. The company has a market capitalization of $230.26 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.53 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.26. The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

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.