TD Asset Management Inc Increases Position in Abbott Laboratories $ABT

TD Asset Management Inc lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 98.6% during the second quarter, Holdings Channel reports. The fund owned 3,467,896 shares of the healthcare product maker’s stock after purchasing an additional 1,721,523 shares during the quarter. TD Asset Management Inc’s holdings in Abbott Laboratories were worth $471,669,000 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. Consilium Wealth Advisory LLC increased its holdings in Abbott Laboratories by 2.1% in the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock valued at $507,000 after buying an additional 78 shares during the last quarter. Mayflower Financial Advisors LLC increased its holdings in Abbott Laboratories by 0.5% in the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock valued at $2,298,000 after buying an additional 78 shares during the last quarter. FF Advisors LLC increased its holdings in Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after buying an additional 79 shares during the last quarter. Charles Schwab Trust Co grew its holdings in shares of Abbott Laboratories by 0.6% during the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after purchasing an additional 79 shares during the last quarter. Finally, Opes Wealth Management LLC grew its holdings in shares of Abbott Laboratories by 2.9% during the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after purchasing an additional 80 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABT. Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Royal Bank Of Canada upped their target price on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. BTIG Research lowered their target price on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a report on Friday, July 18th. Leerink Partners started coverage on Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price for the company. Finally, Mizuho increased their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.17.

Abbott Laboratories Stock Performance

ABT opened at $131.52 on Tuesday. The company has a market capitalization of $228.90 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 2.51 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The business has a 50 day moving average price of $132.57 and a two-hundred day moving average price of $131.60.

Abbott Laboratories (NYSE:ABT) last released 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 return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm posted $1.14 earnings per share. The firm’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. Research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

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.