Westwood Holdings Group Inc. Has $145.50 Million Stock Holdings in Abbott Laboratories $ABT

Westwood Holdings Group Inc. lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,069,745 shares of the healthcare product maker’s stock after selling 115,293 shares during the period. Abbott Laboratories accounts for 1.3% of Westwood Holdings Group Inc.’s holdings, making the stock its 5th biggest position. Westwood Holdings Group Inc.’s holdings in Abbott Laboratories were worth $145,496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ABT. IMG Wealth Management Inc. increased its stake in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Abbott Laboratories in the first quarter valued at about $30,000. Vision Financial Markets LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at $33,000. Accent Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth $38,000. Finally, Curio Wealth LLC raised its stake in Abbott Laboratories by 15,250.0% in the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after purchasing an additional 305 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Up 1.0%

NYSE:ABT opened at $130.59 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The firm has a fifty day simple moving average of $130.38 and a two-hundred day simple moving average of $131.35. The stock has a market capitalization of $227.08 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. Abbott Laboratories’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 EPS. 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 fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a $0.59 dividend. 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 is presently 29.57%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABT. Jefferies Financial Group lifted their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Evercore ISI reduced their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Daiwa Capital Markets lifted their price target on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group raised their price target 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. Finally, Barclays lifted their target price on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus 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.