Abbott Laboratories $ABT Position Boosted by CPC Advisors LLC

CPC Advisors LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 992.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,827 shares of the healthcare product maker’s stock after purchasing an additional 17,104 shares during the period. CPC Advisors LLC’s holdings in Abbott Laboratories were worth $2,522,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Trust Co grew its holdings in shares of Abbott Laboratories by 109.8% in the third quarter. Charles Schwab Trust Co now owns 29,412 shares of the healthcare product maker’s stock worth $3,939,000 after purchasing an additional 15,394 shares during the last quarter. Avanza Fonder AB boosted its position 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 valued at $22,904,000 after buying an additional 655 shares during the period. Asset Management One Co. Ltd. grew its holdings in Abbott Laboratories by 2.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 858,834 shares of the healthcare product maker’s stock worth $115,032,000 after acquiring an additional 19,966 shares during the last quarter. Seaview Investment Managers LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at about $11,068,000. Finally, Guggenheim Capital LLC raised its stake in shares of Abbott Laboratories by 13.5% during the second quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock valued at $13,457,000 after acquiring an additional 11,794 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ABT. Barclays lifted their price objective on Abbott Laboratories from $162.00 to $169.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Raymond James Financial raised their price target on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $142.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Daiwa Capital Markets raised their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.68.

Abbott Laboratories Stock Down 1.0%

NYSE:ABT opened at $124.63 on Tuesday. The firm has a 50-day simple moving average of $126.15 and a two-hundred day simple moving average of $129.24. The firm has a market cap of $216.72 billion, a P/E ratio of 15.62, a P/E/G ratio of 2.09 and a beta of 0.72. 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 0.23, a quick ratio of 1.24 and a current ratio of 1.70.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The firm’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 predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

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

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.