Conning Inc. Has $35.41 Million Position in Abbott Laboratories $ABT

Conning Inc. grew its position in Abbott Laboratories (NYSE:ABT) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,318 shares of the healthcare product maker’s stock after buying an additional 727 shares during the quarter. Abbott Laboratories accounts for about 1.2% of Conning Inc.’s portfolio, making the stock its 25th largest holding. Conning Inc.’s holdings in Abbott Laboratories were worth $35,406,000 at the end of the most recent reporting period.

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

Abbott Laboratories Trading Down 0.8%

ABT opened at $132.30 on Friday. 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 firm 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. The company’s 50 day moving average price is $132.54 and its two-hundred day moving average price is $131.56.

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

Abbott Laboratories Announces Dividend

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

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’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 sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of research analyst reports. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Wells Fargo & Company lowered their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Morgan Stanley upped their price objective 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. Royal Bank Of Canada upped their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Finally, Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and boosted their target price for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $146.17.

Abbott Laboratories 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.