Vestmark Advisory Solutions Inc. Acquires 24,445 Shares of Abbott Laboratories $ABT

Vestmark Advisory Solutions Inc. grew its holdings in Abbott Laboratories (NYSE:ABT) by 110.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,518 shares of the healthcare product maker’s stock after acquiring an additional 24,445 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Abbott Laboratories were worth $6,327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. IMG Wealth Management Inc. increased its position in Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares during the last quarter. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth about $27,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Vision Financial Markets LLC bought a new position in shares of Abbott Laboratories in the 1st quarter valued at approximately $33,000. Finally, Accent Capital Management LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $38,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $126.28 on Friday. The firm has a fifty day moving average price of $130.78 and a two-hundred day moving average price of $131.40. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The company has a market cap 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.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The company’s quarterly 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. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ABT shares. Benchmark started coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price target on the stock. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 16th. Raymond James Financial upped their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus 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.