Gateway Investment Advisers LLC Lowers Position in Abbott Laboratories $ABT

Gateway Investment Advisers LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 484,464 shares of the healthcare product maker’s stock after selling 6,451 shares during the period. Gateway Investment Advisers LLC’s holdings in Abbott Laboratories were worth $64,889,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABT. IMG Wealth Management Inc. grew 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 valued at $26,000 after acquiring an additional 167 shares during the period. Anfield Capital Management LLC lifted its holdings in Abbott Laboratories by 81.3% during the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Delos Wealth Advisors LLC bought a new position in shares of Abbott Laboratories in the second quarter worth approximately $32,000. Curio Wealth LLC increased its stake in shares of Abbott Laboratories by 15,250.0% in the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after purchasing an additional 305 shares in the last quarter. Finally, Pineridge Advisors LLC raised its position in shares of Abbott Laboratories by 34.6% during the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after purchasing an additional 81 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $124.15 on Friday. The business’s 50-day moving average is $125.99 and its 200 day moving average is $129.61. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a market capitalization of $215.88 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.06 and a beta of 0.72. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ABT shares. Raymond James Financial upped their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Jefferies Financial Group upped their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Sanford C. Bernstein increased their target price on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday, December 29th. Finally, Daiwa Capital Markets increased their price objective on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $147.00.

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.