TFC Financial Management Inc. Raises Stock Holdings in Abbott Laboratories $ABT

TFC Financial Management Inc. raised its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% in the second quarter, HoldingsChannel reports. The firm owned 7,580 shares of the healthcare product maker’s stock after buying an additional 139 shares during the quarter. TFC Financial Management Inc.’s holdings in Abbott Laboratories were worth $1,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ABT. Nuveen LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $1,658,180,000. Goldman Sachs Group Inc. grew its stake in shares of Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares during the period. Wellington Management Group LLP grew its stake in shares of Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares during the period. TD Asset Management Inc grew its stake in shares of Abbott Laboratories by 98.6% during the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after purchasing an additional 1,721,523 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after purchasing an additional 1,639,954 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Down 1.6%

ABT stock opened at $127.38 on Friday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year 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 company has a market capitalization of $221.70 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 2.46 and a beta of 0.69. The business has a 50 day simple moving average of $132.49 and a two-hundred day simple moving average of $131.56.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the company posted $1.21 EPS. The firm’s revenue for the quarter 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. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced 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 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday. BTIG Research reiterated a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research note on Wednesday. Mizuho boosted their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Benchmark assumed coverage on Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. Two equities research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.44.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

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.